May month is not that bad after all. Although there was a sell down at the beginning of the month, market started to rebound in the middle of the month. So, what's next in June?
Today the active futures contract for Hang Seng Index futures is June month and it was traded between 20294-20719 (425). Closing at 20474 (+157), it was 341 points discount compared to the cash market which closed at 20815.09 (+185.70).
For Hang Seng Index futures, we see next resistance at 20650. Next target 21000-21100. Downside supports are 20380, next 20100.
In Malaysia, today is the expiry for KLCI May futures contract. Market might consolidate between 1620-1640 in near future. Upside resistance, 1660; next 1680. Support 1608.
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