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FBM KLCI futures likely to undergo further correction.
Byline: Bernard
THE FTSE Bursa Malaysia Kuala Lumpur Composite Index futures November contract on Bursa Malaysia Derivatives closed lower at 1,271 with an open interest of 16,423 contracts last week.
Trading in the futures market continued to remain rangebound as investors seem to be taking a breather. With the relisting of Maxis providing as a catalyst, the November contract pushed towards the resistance at 1,285 before correcting back to a low of 1,266.50, a significant trading range of 20 points.
As anticipated, the trading pattern last week was almost a mirror reflection of its pattern two weeks ago. The series of corrections and rebounds culminated in …
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