Cautious Bullishness In The FKLI

Since the last update when I reiterated my long call on the FKLI, it has moved up quite a fair bit and the April contract is expected to settle around the region of 947. The market has shown some signs of lethargy, meaning that the bulls will need fresh impetus to continue marching forward. For those adventurous, advocate rolling half of your position over to the May contract. For those who are conservative, wait for a correction to go in on the long side. Next month should see some exciting moves ahead of the World Cup in June. The current trend is still biased to the upside, although there might be an initial shake off to correct slight overbought situation.