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Thursday, January 17, 2013

Singapore Stock Markets Outlook 18-Jan 213

Market forecast:
Today STI opened with bullish expectations and made a high of 3221 mark in the early morning but later on it was unable to sustain the same movement and closed on red at 3195.10 loosing 13.40(-0.42%) points.

Straits Times Index previously trading in a channel called bullish channel from the last 3 trading session and expected to continue more bearish trend in next  trading days. STI can find intrady support @ 3150-3140 levels in coming days. If STI will able to move above the upper level of channel than it will move further upside.

STI having immediate support @ 3180 level and below this level it can take support @ 3150-3130 will be the support zone for STI.

STI having immediate Resistance @3215 and above this level it may take resistance @ 3230-3245 levels.

Technical indicators:
Technical indicators are seem to overbought zone on charts.

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