March contract might continue to strengthen as bullish crossover can be seen MACD and MA oscillator is already edging on positive divergence. Current RSI rebounded to neutral level. As mentioned in our report on Monday, at current level, the market’s downside will be well cushioned (supported by positive news, ie: Malaysia’s stimulus package), at the same time, the upside will be “well-capped” (capped by the negative outlook, ie: economy growth).
FKLI is most likely to hover around the 860 – 890 band, at least for this month. Immediate resistance can be seen at 882 while support level would be 857.
HAPPY TRADING & GOODLUCK2ALL