FKLI (Daily Chart)
The index futures has ended the year at 1521.5 recording a rise of 255 points or 20.13% equivalent. In fact, index futures recorded the highest year end close of the year this time around. Amid the upcoming speculation on election at the sideline, prices has been trying to shoot through the roof taking off the resistant over and over again. While prices has been mingling near the resistant, the proceeding month futures has been trading at a 1527 as compared to the underlying FBM30 which is currently trading at 1518.76. The obvious premium over the underlying suggest that the overall market players are relatively optimistic over the market in the early of year 2011. However, taking into account the strong resistant at 1530 region, both bets on the short and long is possible with a decisive stop in place.
Immediate Resistant : 1532
Immediate Support : 1520
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