KUALA LUMPUR, April 8 — The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract (FKLI) on Bursa Malaysia Derivatives opened higher today, tracking the better performance on the underlying cash market performance.
As at 9.38am, spot month April 2021 and May 2021 rose six points each to 1,602.0 and 1,598.5, respectively, June 2021 added five points to 1,595.0, and September 2021 gained 3.5 points to 1,583.5.
Turnover stood at 1,003 lots, with open interest at 34,124 contracts.
The benchmark FBM KLCI was 2.03 points better at 1,602.62 after 42 minutes of trading.
RHB Research advises investors to initiate long positions after the FKLI saw a long white candle, or Bullish Marubozu, yesterday surging 20.5 points to settle at 1,596 points.
“The FKLI is shifting to a bullish momentum. It is very likely the renewed bullish momentum may follow through to test the resistance pegged at 1,612.50 points, or at least, reclaim the 1,600 points psychological level.
“Since the stop loss is breached, we are shifting to a positive trading bias,” it added