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Straits Time Levels:-
Support 1- 3000Support 2- 2985
Support 3- 2965
Resistance 1- 3040
Resistance 2- 3060
Resistance 3- 3080
SGX Market Review of July 30-
• Singapore opens higher above 3000 mark @ 3020 and traded higher side whole day.STI soar above 3025 levels.• Singapore share opens @ 3020 mark and then traded sideways in the range of 3015-3025 and once in the second half when it crossed its 3025 level it made day high of 3039.34, just near to its 3040 resistance level and finally closed @ 3032.80 with gain of 34.31 points up by 1.14%.
• STI closed above 3015 mark, on Friday amid improved sentiment across the region following successful debt auctions in Europe on Thursday Volume was 1.52 billion shares worth S$1.17 billion. Gainers outnumbered losers 244 to 129.
SGX Market Forecast for July 31-
• STI crossed its 3000 mark made a day high near to 3040 levels and closed well above this level , now we could expect more upward rally in the STI.• STI breached its 3015 resistance level and faced resistance @ 3040 mark, for the upward direction it has to maintain itself above this mark. On the Daily chart we can see the moving average crossover where 50 day MA level crossed 200 day MA level from below which is bullish sign.
• STI having a major resistance area above the 3040, as previously STI faced resistance this same levels and cant able to crossed this and this time if it crossed and maintain and crossed than we can see more upward rally in the markets.
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