FKLI Daily Commentary for 25th Aug 2010

FKLI Aug Futures contract traded 2.0 points lower to close at 1399.0 levels as compare to previous trading session to with a total of 5,108 lots traded in the market. Wild trading day for FKLI price trading as FKLI open lower for trading and soon reach new height before plunge lower towards day low as regional indices sudden turn towards south during 2nd trading sessions.
FKLI price seems supported above previous support levels at 1396 region before manage to surge higher towards 1403; at 38.2% Fibonacci resistance levels; in the hourly price. However, FKLI price seems falling towards day low to reach 1394 before settle at 1399; 61.8% Fibonacci rebound resistance levels. Technically, FKLI price seems likely to undergo some correction phase where next nearest support levels seen at 1390 and 1383.5 regions. Failure to hold FKLI traded price above support levels shall further indicates more selling pressure. However, resistance levels seen at 1403 and 1417 regions.

FKLI Daily Commentary for 23th Aug 2010

FKLI Aug Futures contract traded 1.0 points higher to close at 1390.0 levels as compare to previous trading session to with a total of 4,480 lots traded in the market. FKLI price opened lower for trading as Dow Jones overnight settlement was traded lower while regional indices traded lower in the earlier trading sessions but FKLI soon manage to recover towards north to recover from losing ground.
FKLI price manage to rest on support levels at 1384; 61.8% Fibonacci support levels, in the hourly chart before manage to rebound to test resistance levels at 1393, 78.6% Fibonacci resistance level. Technically, FKLI was expected to trade higher in the coming trading sessions provided support levels at 1384 and 1378 were not violated in the coming trading sessions. However, FKLI must overcome resistance levels at 1397 and 1412 in order for the rally to continue trading higher.

FKLI Daily Commentary for 20th Aug 2010

FKLI Aug Futures contract traded 3.5 points higher to close at 1389.0 levels as compare to previous trading session to with a total of 6,964 lots traded in the market. FKLI opened higher for trading as regional indices were traded higher during earlier trading sessions but profit taking soon come into picture after FKLI were traded almost 10 points higher as compare to pervious trading sessions.
FKLI price surge higher after found support levels at 1377; 78.6% Fibonacci support level, in the preiovus trading sessions before FKLI was traded higher to reach high at 1395.5; 161.8% Fibonacci resistance level, in the hourly price chart. Technically, FKLI seems undergoing minor correction wave 4 where critical support levels at 1384 and 1377; 61.8% and 100% Fibonacci support level, were not violated in the coming trading sessions. However, FKLI must be capable to overcome resistance levels at 1395.5 and 1400 in order further affirm uptrend remain strong to thrust higher in the coming trading sessions.

FKLI Daily Commentary for 17th Aug 2010

FKLI Aug Futures contract traded 8.0 points higher to close at 1369.5 levels as compare to previous trading session to with a total of 5,028 lots traded in the market. FKLI opened lower for trading as regional indices and Dow Jones Futures were traded lower in the morning but soon manage to recover and traded higher as Shanghai Index were traded higher while Dow Jones Futures electronic trading turn green during trading sessions.
FKLI price continue to surge higher during trading sessions after reached support levels at 1355.5 regions; 38.2% Fibonacci support levels in the hourly price. Technically, FKLI continue to surge higher after wave 4 count to complete at 1355; 38.2% Fibonacci support levels before launch wave 5 where 1370 view as 61.8% Fibonacci resistance levels. FKLI would expected to trade higher in the coming trading sessions provided support levels at 1361 and 1355 levels were not violated during trading sessions while preferably traded price trading above resistance levels at 1370 and 1379 regions.

FKLI Daily Commentary for 13th Aug 2010

FKLI Aug Futures contract traded 1.5 points lower to close at 1346.0 levels as compare to previous trading session to with a total of 7,734 lots traded in the market. FKLI opened lower for trading but manage to recover from losses soon as most of the regional indices were recovered during the 2nd trading sessions despite Dow Jones Futures electronic was still trading below green during trading sessions.
FKLI price was well holding above support levels at 1347.5; 278,6% Fibonacci support levels, before manage to rebound towards resistance levels at 1349 regions; 38.2% Fibonacci resistance level. Technically, FKLI price seems trading on minor wave 3 trading south provided resistance levels at 1356 and 1367 were not violated in the coming trading sessions. However, it’s essential for FKLI price to trade below support levels at 1342 and 1339 in order to further affirm on south trading direction.

FKLI Daily Commentary for 12th Aug 2010

FKLI Aug Futures contract traded 8.5 points lower to close at 1347.5 levels as compare to previous trading session to with a total of 6,237 lots traded in the market. FKLI opened lower for trading and continue trading lower during trading sessions as most of the regional indices were plunge lower with Nikkei index plunge more than 2%, Shanghai Index plunge 1.5% as the major leading indices.
FKLI plunge lower after long consolidation around 1351 to 1355 regions before trading lower towards next support levels at 1345 regions; 61.8% Fibonacci support levels. Technically, FKLI seems encounter some buying interest around support levels at 1345 and 1337 regions. FKLI would trigger further selling activities once support levels seem fails to hold trading price above support levels. On the contrary, FKLI trading price would encounter some degree of resistance around 1354 and 1362 regions.

FKLI Daily Commentary for 11th Aug 2010

FKLI Aug Futures contract traded 9.5 points lower to close at 1356.0 levels as compare to previous trading session to with a total of 3,431 lots traded in the market. FKLI opened unchanged and continue to trade lower during trading sessions as regional indices especially Shanghai Index plunge more than 2% upon end of trading sessions while Dow Jones Futures electronic trading was traded lower during the trading hours.
FKLI plunge lower during trading sessions after attempt to penetrate resistance levels at 1367 failed while previous support levels at 1361 seems fails to hold against selling pressure. Technically, FKLI seems trading south in the coming trading sessions provided support levels at 1355 and 13505 fails to hold firm against the selling activities. However, FKLI would be affirming bullish sentiment back into rally once resistance levels at 1367 and 1379 were violated in the coming trading sessions.

FKLI Daily Commentary for 10th Aug 2010

FKLI Aug Futures contract traded 2.5 points higher to close at 1365.5 levels as compare to previous trading session to with a total of 3,962 lots traded in the market. FKLI opened lower upon open for trading sessions as Nikkei index was traded lower but FKLI soon manage to recover from losses as Hang Seng index and other regional indices manage to recover during trading sessions.
FKLI succeed in attempt to penetrate hourly support trend line seen at 1363 regions while attempt manage to search support at 1358 regions; 78.6% Fibonacci support levels at 1379 regions. Technically, FKLI would trigger further sells activities if traded price fails to penetrate resistance levels at 1369 and 1379 regions. However, FKLI would only be further affirming on bearish sentiment provided support levels at 1355 and 1350.5 fails to hold against the selling pressure.

FKLI Daily Commentary for 9th Aug 2010

FKLI Aug Futures contract closed 3.5 points lower as compare to previous trading session to close at 1363 levels with a total of 2,516 lots traded in the market. FKLI was traded within range during entire trading sessions as regional indices and Dow Jones futures electronic trading were not traded on affirmative direction.
FKLI traded lower after reached resistance levels at 1368 regions before to test support levels at 1363 regions. FKLI currently rested on above the support trend line at 1363 regions while 78.6% Fibonacci support levels seen at 1362 regions. Technically, FKLI would trigger further sell activity provided support levels at 1360.5 and 1355 were violated in the coming trading sessions. Else, FKLI would still consider riding on bullish market where nearest resistance levels seen at 1369 and 1379 regions.

FKLI Daily Commentary for 3rd Aug 2010

FKLI July Futures contract traded 13 points higher to close at 1367 levels as compare to previous trading session to with a total of 4,518 lots traded in the market. FKLI opened higher upon open for trading sessions as Dow Jones futures electronic trading was traded higher while most of the regional indices were traded higher, hence indirectly fueled our market trading north.
FKLI basically traded within rectangular formation during intraday trading with support seen at 1364 levels while resistance levels were seen at 1368 regions. Technically, FKLI seems holding well during trading sessions with support seen at 1354 and 1350 regions. FKLI would encounter some resistance levels at 1371 and 1379 regions based chart pattern of previous triangle formation where objective price seen at 1371 regions while 1379 was 78.6% Fibonacci resistance levels in the daily price chart.

FKLI Daily Commentary for 28th July 2010

FKLI July Futures contract traded 0.5 points higher to close at 1355.5 levels as compare to previous trading session to with a total of 11,143 lots traded in the market. FKLI opened higher for trading but only manage to settle 0.5 point higher due to massive profit taking activities despite regional indices were traded higher during trading sessions.
FKLI fall after attempt to penetrate resistance levels at 1361 regions failed in the morning trading sessions before start to engage to find support at 1351 regions. However, FKLI manage to recover some losing ground towards 1357 region, 61.8% Fibonacci resistance levels regions. Technically, FKLI seems manage to rebound 61.8% Fibonacci figure after manage to penetrate 0.5 point below support levels at 1351. FKLI would expect to trade lower in the coming trading sessions provided resistance levels at 1357 and 1363 were not violated in the coming trading sessions. Support levels were seen at 1343.5 and 1338 regions.

FKLI Daily Commentary for 22nd July 2010

FKLI July Futures contract traded 7.5 points higher to close at 1344.5 levels as compare to previous trading session to with a total of 4,679 lots traded in the market. FKLI was traded wild yesterday as it opened higher before plunge lower despite most of the regional indices were traded higher but manage to recover more profit before end of trading sessions.
FKLI challenge next resistance levels at 1347.5; 78.6% and 100% Fibonacci resistance levels, before plunge lower towards support levels at 1340 regions and rebound 78.6% Fibonacci figure at 1345.5 before end of trading sessions. Technically, FKLI seems possible to temporary topped provided resistance levels at 1352.5 and 1360 were not violated in the coming trading sessions while support levels were seen at 1337 and 1331 regions.

FKLI Daily Commentary for 21st July 2010

FKLI July Futures contract traded 3 points lower to close at 1337 levels as compare to previous trading session to with a total of 4,733 lots traded in the market. FKLI fall lower after manage to challenge higher territory in the early trading sessions due to firm regional indices trading.
FKLI tested resistance levels at 1344.5; 78.6% Fibonacci resistance levels, before traded lower to find support at 1337, 61.8% Fibonacci support levels in the hourly price chart. Technically, FKLI was expected to have 1 more thrust trading higher where next nearest resistance levels were seen at 1347.5 and 1352.5. Support levels were seen at 1337 and 1332.5 regions.

FKLI Daily Commentary for 20th July 2010

FKLI July Futures contract fall marginally 0.5 points lower to close at 1340 levels as compare to previous trading session to with a total of 5,102 lots traded in the market. FKLI recovered from losses after opened lower for trading but manage to recover before end of trading sessions as Europe indices positive signs to trade higher.
FKLI traded to trade higher during trading sessions towards 1340; 78.6% Fibonacci resistance levels manage to penetrate previous low levels at 1333 regions. Technically, FKLI seems still within correction phase although these corrections count seems misleading by many contracting element. However, FKLI resistance levels still remain at 1347 and 1360 regions while support levels remain at 1325 and 1315 regions.

FKLI Daily Commentary for 16th July 2010

FKLI July Futures contract fall 6.5 points lower to close at 1337 levels as compare to previous trading session to with a total of 6,928 lots traded in the market. FKLI plunge lower during trading sessions as regional indices especially Hang Seng Index and ShangHai Index plunge lower during trading sessions.
FKLI traded lower during trading sessions after previous support levels at 1340 fails against selling activity during trading session and found support levels at 1333; 61.8% Fibonacci support levels before begin to rebound towards 1338; 50% Fibonacci resistance levels. Technically, FKLI still favor towards correction phase provided resistance levels at 1343 and 1352.5 were not violated in the coming trading sessions. Support levels were seen at 1327 and 1322 regions. Failure to hold trading price above support levels shall indices further selling pressure to take in place.

FKLI Daily Commentary for 15th July 2010

FKLI July Futures contract surge 4.5 points higher to close at 1343.5 levels as compare to previous trading session to with a total of 7,937 lots traded in the market. FKLI opened higher but only trading within range throughout entire trading sessions as regional market and Dow Jones futures electronic trading were traded within range after huge movement upon open for trading.
FKLI surge towards north at 1347.5 but consolidate during trading sessions within range from 1346 to 1341 region throughout entire trading sessions. Technically, FKLI yet to show any sign of reversal where support levels at 1328 and 1324 must not be violated in the coming trading sessions in order for uptrend to remain intact. However, FKLI would encounter some selling pressure around resistance levels at 1352.5 and 1360 regions.

FKLI Daily Commentary for 14th July 2010

FKLI July Futures contract surge 10.5 points higher to close at 1339 levels as compare to previous trading session to with a total of 7,358 lots traded in the market. FKLI traded higher in the 2nd trading sessions as regional indices and Dow Jones futures electronic trading were traded higher during trading sessions after found affirmative support levels in the morning sessions.
FKLI break down lower from the symmetric triangle in the hourly price chart to meet support at 1324; 61.8% Fibonacci support levels, in the hourly price chart before surge up higher by end of trading sessions. Technically FKLI seems aggressive in attempt to surge higher to challenge resistance levels at 1342 and 1352.5 regions. However, FKLI crucial support would be seen at 1324 and 1315 regions.

FKLI Daily Commentary for 13rd July 2010

FKLI July Futures contract traded unchanged to close at 1328.5 levels as compare to previous trading session to with a total of 4,475 lots traded in the market. FKLI opened and surge higher during early trading sessions but settle lower due to heavy profit taking activity as FKLI has been traded higher for almost 5 days consecutively.
FKLI attempts to penetrate previous resistance levels 1342 fails after being resisted at daily trend line at 1337 regions and settle below resistance levels at 1330.5; 78.6% Fibonacci resistance levels. Technically, FKLI’s correction wave count seems in jeopardy as attempt to search higher resistance levels was persistence. However, resistance levels at 1342 and 1352.5 seen as crucial resistance levels in order for the correction wave count to remain intact. Support levels were seen at 1325 and 1315 regions.

FKLI Daily Commentary for 12nd July 2010

FKLI July Futures contract traded 12 points higher to close at 1328.5 levels as compare to previous trading session to with a total of 8,370 lots traded in the market. FKLI surge higher during trading sessions as regional indices were trading higher which indirectly encourage FKLI attempt to search for higher resistance levels.
FKLI continue to breach previous resistance levels at 1322 regions to search for higher resistance levels at 1333; 78.6% Fibonacci resistance levels range from 1342 to 1287 regions. Technically, FKLI still seems unclear on the major trading direction. However, it’s very crucial that FKLI must not penetrate resistance levels at 1336 and 1342 in order for FKLI to remain trading as correction wave. Failure to hold trading price below resistance shall indicate market would be riding on bull market. FKLI support levels were seen at 1325 and 1316.5 regions.

FKLI Daily Commentary for 9th July 2010

FKLI July Futures contract traded 12 points higher to close at 1316.5 levels as compare to previous trading session to with a total of 5,578 lots traded in the market. FKLI opened higher as Dow Jones index was settle almost 3% higher as compare to previous trading sessions while Nikkei further encourage for higher opening by trading around 260 points point as compare to previous trading sessions.
FKLI tested low of wave 1 count at 1322 regions during open for trading and soon trading lower followed by consolidation for the entire trading sessions within range from 1315 to 1319 regions which coincidently same levels at 38.2% Fibonacci support levels at 61.8% Fibonacci resistance levels. Technically, FKLI still seen uncertain on this rebound wave has been completed where only confirmation support levels seen at 1304 and 1298 regions while higher resistance levels were expected around 1326 and 1338 regions.