Singapore Exchange - Market Forecast for 05 March

STI breached its 1 month lower level of 3250 and closed below this level which is bearish sign for market.

Today STI crossed its double top formation, we can see the neck line in graph, it’s not a perfect double top formation but it almost same and also STI looking bearish on daily graph.

Now for coming days 322 will act as a major support zone because if STI break this level then it will be more bearish and can touch 3190 levels soon.

STI Technical Support

STI having immediate support @ 3220 level and below this level it can take support @3190-3160 will be the support zone for STI.

STI Technical Resistance

STI having immediate Resistance @3250 and above this level it may take resistance @ 3265-3285 levels.

Technical Indicators

Technical indicators MACD, RSI and CCI all are in bearish mode. As we can see in the chart, RSI trading below its centreline @ 42.94 and CCI closed @ -170.05 levels.

Sup 3	Sup 2	Sup 1	Res 1	Res 2	Res 3
3160	3190	3220	3250	3265	3285