Futures contracts closed completely in the red in the derivatives market on April 3. The decline in futures contracts was large as selling pressure increased in the underlying market, causing short position holders to increase their activities. Liquidity decreased again, but remained at a good level.
In the derivatives market, futures contracts were under strong pressure from short positions and closed completely in the red. The decline in contracts was relatively large, similar to the underlying index. Accordingly, futures contracts fell from -17.3 to -19.6 points; meanwhile, the underlying index also fell to -18.03 points.
The current month contract VN30F2404 closed at 1,271.9 points, down -18.1 points from the previous session. The decrease of the April contract was similar to the decrease of the underlying index, so the negative difference did not change much at -2.37 points.
Liquidity in the derivatives market has decreased again, although it remains at a moderate level. Specifically, the total futures trading volume reached 242,635 contracts, of which the current month contract alone reached 241,209 contracts. A notable point is that the volume of open contracts is on an upward trend, reaching 55,996 contracts.
Technical chart of VN30F2404 contract.
On the 1-hour technical chart, the VN30F2404 contract has fallen below the 36-period exponential moving average MA. Technical indicators such as the relative strength index (RSI) and the moving average convergence divergence (MACD) are moving at negative signals. According to SSI Research, the VN30F2404 contract is still under short-term correction pressure towards the 1,260 - 1,262 point zone.
On the underlying market, the VN30 index closed at 1,274.27 points, down -18.03 points (-1.4%). Trading volume reached 257.4 million units. Strong supply pressure from the beginning of the session caused the VN30 to lose its short-term support level of 1,288 points. Technical indicators RSI and trend indicator (ADX) moved with neutral signals. Thereby, the VN30 will continue its correction trend to the short-term target zone of 1,258 - 1,260 points./.
Duong Chung (According to Thoibaotaichinhvietnam.vn, April 4, 2024)
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