9:11 PM
Admin
Market Reviews:
Asian markets were mixed on Wednesday as a rebound on Wall Street settled nerves after a two-day sell-off sparked by weak Chinese growth data.
STI opens with gap up @ 3297.75, and then made a day high @ 3301.95 level after trading in a narrow range, STI break 3295 level and fell down and made day low @ 3284.29 and finally closed @ 3291.46 with loss of 0.120 points.
Volume was 2.34 billion shares valued at S$1.6 billion. Losers beat gainers 238 to 187
Market forecast:
Today STI maintain itself above the 3280 mark and closed above this level but in negative territory.
STI formed a small black candlestick, which denotes small movement in market and closed below the previous closing.
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 @ 3270 level and below this level it can take support @3250-3220 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.
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