• The FSSTI is likely to consolidate between 2,790 and 2,910 before edging higher towards 2,970. The technical landscape of the said index is looking positive, with SMA20 forming golden crosses with SMA50 & SMA100.

Support: 2,790 Resistance: 2,970

Federal Reserve Chairman Ben S. Bernanke laid the groundwork last week for a third round of so-called quantitative easing, or QE3, saying that the Fed is prepared for further “accommodation.” The central bank, which bought $2.3 trillion of debt as part of QE1 and QE2, also reiterated a commitment to keep rates low until at least 2014.

“QE3 is very, very good for emerging markets because it means there’s lots of cash in the system,” Mobius, who oversees about $40 billion as executive chairman of Templeton’s emerging markets group, said in a phone interview from Bangkok on Jan. 27. “........Valuations in developing nation stocks are “attractive, almost globally,” Mobius said. He said “rallies should continue” as markets have “already anticipated” a global economic slowdown.....“Emerging markets, even this year, are growing at four times that of developed countries,” he said.