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Market Reviews:
Singapore shares slips below support level of 3280 but maintain it to close above this mark.
STI opens @ 3297.52 then made a day high @ 3301.76, after making day high STI fell down and made say low below support level @ 3279.09 and finally closed @ 3293.25 with loss of 3.32 points down by 0.10%
Some 2.98 billion shares, valued at S$1.29 billion were traded. Gainers outnumbered losers 281 to 164.
Market forecast:
After yesterday recovery today again STI fell below 3300 mark and breached its support @ 3280 mark, but closed well above this level.
STI formed a candlestick pattern called Black Spinning Top is a single candlestick pattern. Its shape is a small black body with upper and lower shadows having a greater length than the body's length.
STI is in consolidation phrase and trading between 3320-3250, and either side break will decide the further move in STI.
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 bearish, with today’s move.
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