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STI News for July 10, '12:-
Support 1: 2915Support 2: 2900
Support 3: 2885
Resistance 1: 2950
Resistance 2: 2975
Resistance 3: 2995
MARKET REVIEW OF JULY 09, '12:-
* Asian markets fell on Monday after declines in the US and Europe on disappointing American jobs data that raised fresh concerns about the world's biggest economy.* Singapore equities opens with lower node for the starting trading week @ 2957.54 and then it continuously traded lower and breached its support level and closed @ day low of 2929.08 with loss of 49.47 down by 1.66%. In line with regional bourses, on weak US jobs data.
* Data out on Friday showed that the US economy added only 80,000 jobs in June, well below expectations, leaving the unemployment rate at 8.2 %.The Straits Times Index fell 49.47 points to close at 2,929.08. Volume was 1.49 billion shares. Losers led gainers 282 to 105.
SGX MARKET UPDATES FOR JULY 10, '12:-
* STI opens @2957.54 levels and then it made day High of 2961.05, but facing resistance and some profit booking on higher levels and breached its support level of 2935 and closed @ 2929.08.* As we previously mention in our report that technically STI looks bullish above 2910 levels and if maintain these 2945 level than this time we expect to breached its 3035 level soon.
* STI formed a candlestick pattern a big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are "high," it may be the first sign of a top. If it occurs when prices are
confronting an overhead resistance, the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
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