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For the week 28/1/2020 to 31/1/2020, FBMKLCI had a series of red candles to close at 1531.06 pts (-41.75 pts, -2.65%). For technical outlook, we anticipate a bearish continuation as index has dived below Exponential Moving Average 5. We mark the support at 1500.00 pts and resistance at 1572.80 pts.


(2) FBM70

For the week 28/1/2020 to 31/1/2020, FBM70 broke our located support to close red at 14222.23 pts (-570.73 pts, -4.01%). For technical outlook, we expect a moderate bearish following the black long marubozu formation below mid Bollinger Band that indicates index weakness. We locate the support at 13000.00 pts and resistance at 14258.83 pts.


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