9:06 PM
Admin
Market Reviews:
Asian
markets were mixed on Tuesday in the first full session after the
Easter break, while Japanese shares sank for a second straight day as
the yen extended its recent gains.
Singapore
equities open @ 3302.77 and made day low @ 3300 level and recovers
some point and made 3313 and again fell down and took support 3302
levels but finally recovers and ended @ day high @ 3317.59 with gain
of 10.010 points up by 0.30%.
Some
3.60 billion shares, valued at S$1.15 billion were traded. Losers
outnumbered gainers 241 to 201.
Market
forecast:
STI
opens down, also took support @ 3300 mark and soon recovers and
closed @ day high @3317 mark. STI has given its all time high closing
today @ 3317 mark.
With
the closing at day high STI formed a candlestick pattern called
“Closing Marubozu” it is
a single candlestick pattern characterized by a long white body with
no upper shadow. This is an extremely strong bullish candlestick
pattern. White Closing Marubozu can possibly be the first part of a
bullish continuation pattern or it may also be interpreted as a
bearish reversal candlestick pattern depending on the preceding day's
candlesticks.
STI
just closed above the resistance line and it is a bullish signal as
STI having Resistance @ 3320-3322 mark and cant able to sustain above
this level, and today it closed very near to this mark so we expect
that it will crossed this 3320-3322 mark and maintain this.
Support:
STI having
immediate support @ 3295 level and below this level it can take
support @3280-3260 will be the support zone for STI.
Resistance:
STI having
immediate Resistance @3320 and above this level it may take
resistance @ 3335-3350 levels.
Technical
indicators:
Technical
indicators MACD, RSI and CCI all are in recovering with today’s
move.
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