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Byline: Bernard
THE FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) futures September contract on Bursa Malaysia Derivatives closed at 1,169 last Friday with open interests of 12,820 contracts. Trading on the futures market was more consolidative throughout the week with the equity index experiencing similar gyrations. Volatility has been reduced with many of the longer-term technical indicators experiencing milder swings than before. This is why we are focusing on the daily charts this week as we feel that they will continue to be riddled with signals. It must be noted that the rising trend in the spot contract has remained largely intact since April this year. …