Straits Times Index - Market Direction for 10-Oct 2012

STI Singapore - Market forecast: 10-Oct 2012

In continuation of yesterday fall it’s a 2^nd row fall of STI , STI below its 3088 multiple level and took support near @ 3060 mark.

STI breached its 20 day MA level of 3067.31 and made a low of 3063.78, closed below this level @ 3065.91, now its next support comes @ 3050 mark below the 50 day MA level.

For the coming days 50 day MA level will act as a decisive level below this it can took support @ 3020. If STI breached this level and sustain below this than we can see southern tone of market. On the other hand if STI sustain its 3088 levels on higher side than it will be more bullish.

Support:

STI having nearest support @ 3050 level and below this level it can take support @ 3020-2995 will be the support zone for STI.

Resistance:

STI having Resistance @3088 and above this level it may take resistance @ 3105-3120 levels.

Technical indicators:

Technical indicators are look to loosing strength on charts.