Futures contracts traded below the reference price on the derivatives market on May 21 for most of the time. However, strong buying pressure at the end of the session helped contracts narrow the decline, with the VN30F2406 contract regaining its green price. Contract liquidity improved again but remained low.
In the derivatives market on May 21, futures contracts were under pressure from short positions, so they lost points for most of the time. At times, the VN30F2406 contract even lost the 1,300 point mark. However, the pull of long positions at the end of the session helped the contracts narrow the decline, with the June contract still in the green. Specifically, futures contracts closed from -6.1 points to +2.0 points; meanwhile, the underlying index decreased by -3.93 points.
The current month contract VN30F2406 closed at 1,312.1 points, up +2.0 points from the previous session. This contract increased while the underlying index decreased -3.93 points, so the positive difference was regained with +3.48 points. Except for the VN30F2409 contract with a slightly negative difference, the remaining 2 contracts also maintained a positive difference with the underlying index.
Derivatives market liquidity improved compared to the previous session as the volatility of contracts was larger, although still at a fairly low level. Specifically, the total futures contract trading volume reached 176,724 contracts, of which the current month contract alone reached 176,275 contracts.
On the technical chart, the VN30F2406 contract recovered from the 1,297-point zone during the session. Technical signals such as the strength index (RSI) and the moving average convergence divergence (MACD) remained in a strong neutral state. Therefore, according to SSI Research, the VN30F2406 contract will continue to head towards the 1,314-point zone but it is unlikely to surpass this area.
On the underlying market, the VN30 index closed at 1,308.62 points, down -3.93 points (-0.3%). Trading volume slightly decreased compared to the previous session, reaching 232.8 million units.
Technically, the VN30 index recorded the first reversal session after the recent increase above the 1,300 mark. Technical signals of RSI and trend indicator (ADX) narrowed the positive signals. Thus, the VN30 index may maintain a short-term fluctuation within the expected range of 1,295 - 1,312 points.
Duong Chung (According to thoibaotaichinhvietnam.vn)
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