FKLI Commentary on 01/12/08

FKLI November contract fall 6.5 points lower compare to previous trading session to close at 866.5 with a total of 4925 lots traded in the market. FKLI closed lower during trading session due to profit taking activities.

Technically, FKLI forms a Doji formation in the weekly chart with significant volume traded during the week. However, FKLI was expected encounter great resistances around 877 and 891 region. We expect FKLI would be traded higher provided if support levels at 850 and 842.5 were not violated. Traders were advice to hold long position in the coming trading session once the resistance levels were violated.