The FKLI contracts on Bursa Malaysia Derivatives
closed mostly higher yesterday, tracking
gains on the cash market.
July 2011 ended two points better at 1,564,
August 2011 rose 1.5 points to 1,563, September
2011 gained 2.5 points to 1,565 but
December 2011 declined 2.5 points to
1,563.5.
Volume fell to 6,189 lots from Tuesday’s
12,220 lots while open interest rose to
23,701 contracts from 23,678 previously.
The underlying benchmark FBM KLCI rose 6.95
points or 0.45 per cent to close at 1,562.59.
Technically, an early sign of recovery has sighted for both stock index and index futures. Index futures has formed a Bullish candle that pierce entirely Tuesday Bearish candle. While for index futures, the long legged hammer candle formed on Tuesday does gave away the exhausted Bears when it rallies and close 2 points higher at 1,564 yesterday. For today, immediate resistance is pegged at 1,570 while support is located at 1,561.
Technically, an early sign of recovery has sighted for both stock index and index futures. Index futures has formed a Bullish candle that pierce entirely Tuesday Bearish candle. While for index futures, the long legged hammer candle formed on Tuesday does gave away the exhausted Bears when it rallies and close 2 points higher at 1,564 yesterday. For today, immediate resistance is pegged at 1,570 while support is located at 1,561.
Daily Pivot Point
R2= 1570
R1= 1567
S1=1561
S2= 1558
HAPPY TRADING
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