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THE FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) futures June contract on Bursa Malaysia Derivatives closed at 1,325 with open interest of 16,443 contracts last week.
Last week firm buying pressure drove the spot contract to a high of 1,342, breaking the resistance line at 1,320 with strong volume as buyers turned aggressive.
The increased liquidity last week also reflected the willingness of traders to range trade within the week.
The trading indicators had generally recovered to the overbought territory last week after the sharp rebound.
The technical rebound at the 1,320 broke the bearish stronghold …