The KLCI fell 38pts or -2.7% for the week at 1369. The index has remained on above the 20 day MA but below the 200 day MA. Our KLCI retraced due to the collapse of the crude oil futures. Currently, the index is resting on the 20 day MA, should the index move below this support line, it become short term bearish for the market. In addition, the extension of the MCO to further 14 more days will mean more harm to the economy but this is necessary as we treasure human lives more. Hence, you will see our market moving 3 steps forward and 2 steps backward, mare like a horizontal trend but on a upward bias. Next week support is seen at 1340, resistance 1400.

STI:

 

The STI fell 96 pts or -3.6% for the week at 2518. The index is short term bearish now as it is below both its 20 day and 200 day MA. The Covid-19 confirm cases has remained high daily in the migrant community. Singapore's industrial output beat market expectation and rose 16.5% in March on a year-on-year basis vs -0.7% in Feb,  as pharmaceutical production more than doubled. Next week support is seen at 2475, resistance at 2575.