FKLI Commentary on 04/03/09

FKLI February futures contract close unchanged at 863 as compare to previous trading session with total 8027 lots traded in the market. FKLI rebound after previous strong selling activities while regional indices and Dow Jones futures electronic didn’t anticipate wild movement.

Technically, FKLI seems temporary supported on 856, 400% Fibonacci projected figure. We expect FKLI would rebound slightly higher during the coming trading session with resistances seen at 874 and 885 region. Traders were advice to hold short position in the coming trading session while be cautious around support levels at 860 and 850 regions.