8:06 PM
Admin
Market Reviews:
Singapore
equities fell for straight 3rd
day after making its all time high @ 3331.26.
STI
opens down @ 3293.86 then recover some 5 points and made day high @
3298.85 and again fell down and made day low @ 3283.52 and finally
closed @3288.47 with loss of 11.31 points down by 0.34%.
Some
3.74 billion shares, valued at S$1.39 billion were traded. Losers
outnumbered gainers 307 to 142.
Market
forecast:
STI,
after making its all time high facing resistance at higher levels and
fell from that level.
If
we see on charts we can find that the trading volumes have been
decreasing and many stocks falling after making its high. This is
technically showing weakness in the market.
STI
cant able to sustain above its resistance level of 3320 and slips
below this mark, next support comes @ 3280 mark. Whenever STI sustain
above 3300 mark we can be bullish on it.
Support:
STI having
immediate support @ 3280 level and below this level it can take
support @3260-3240 will be the support zone for STI.
Resistance:
STI having
immediate Resistance @3305 and above this level it may take
resistance @ 3320-3335 levels.
Technical
indicators:
Technical
indicators MACD, RSI and CCI all are looking bearish with today’s
move.
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3280 | 3260 | 3240 | 3305 | 3320 | 3335 |
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