8:15 PM
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Straits Time Levels:
S1: 2980
S2: 2965
S3: 2945
R1: 3015
R2: 3035
R3: 3050
Market Review of July 16, '12:
* STI opens above 3000 mark @ 3002.23 and also hovering near this level and advanced as much as 0.3 % to 3,004.34, the highest since May 3.
* Singapore equities open their highest in 2-1/2 months, crossing the 3,000-point level for the first time since early May, and made 3004.34 level but after that it came down and made low of 2990 and finally closed with gain of 3.19 points up by 0.11% @ 2998.75.
* Singapore share prices ended flat after a choppy session on Monday, amid growing caution over corporate earnings due to be reported in coming weeks. 1.38 billion Shares changed hands, down from 1.75 billion on Friday. Losers outnumbered gainers 203 to 197.
Market Forecast for July 17, '12:
* STI crossed its more than a 2 months high level and closed near to that level and looks good on chart if sustain 3k mark.
* As we previously mention that technically STI looks strong on charts and if it crossed 2995 levels and maintain this than it could be move towards 3035-3050 levels in near term.
* STI having a major resistance area above the 3000 mark to 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.
SUPPORT:
* STI having nearest support @ 2980 level and below this level it can take support @ 2965-2945 will be the support zone for STI.
RESISTANCE:
* STI having Resistance @3015 and above this level it may take resistance @ 3035-3050 levels.
TECHNICAL INDICATOR:
* Technical indicators are looking Bullish on chart.
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