KUALA LUMPUR, July 24 — The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contracts on Bursa Malaysia Derivatives opened almost flat today despite the steadier underlying cash market, dealers said.

RHB Retail Research said the FBM KLCI futures contract was likely to stay long above 1,784 points and its longer-term uptrend was expected to remain intact.

The research firm said the key index should continue higher and a firm upside bias should keep it above 1,800 points.

“Immediate resistance is the round figure of 1,810 points and then at every 10-point interval thereafter.

“The sellers, however, could return in an unlikely event of a close below 1,800 points. This will push the index below yesterday’s white candle and the resulting selling could be strong, especially if the index closes below 1,795pts,” it said in a research note today.

RHB Retail Research said further support was at 1,790 points and a failed test of 1,800 points should be confirmed by a close below 1,784 points.

At 9.30 am, spot month July 2013 gained one point to 1,809, both August 2013 and September 2013 were unchanged at 1,809 and 1,806.5, respectively, while December 2013 was untraded at 1,806.5.                       

Turnover stood at 1,191 lots while open interest totalled 37,968 contracts.

The underlying FBM KLCI garnered 4.35 points to 1,809.66 after 30 minutes of trading. – Bernama