8:42 PM
Admin
Market Reviews:
STI index fell badly in late hours today and closed with more than a 1% lower.
STI opens above 3400 level @ 3407.23 and then it made day high @ 3416.46 and after it slowly dragging down but in late hours it fell below low and made day low @ 3367.47 and also closed at day low with loose of 38.61 points down by 1.13%.
Some 4.18 billion shares, valued at S$1.95 billion were traded. Losers outnumbered gainers 316 to 162.
Market forecast:
Singapore shares were more than 1% down today ay, after scaling to the highest in more than 5 years just last week. The Straits Times Index traded lower and closed very near to support level.
Today STI formed a long black candlestick called closing marubozu also this candle engulf previous 2 candles which is more bearish sign.
as we mention in our previous report STI fell below its previous low, still it looks sideways because STI trading above 78.6% retracement level which is higher for any index at this point we expect some sideways to downwards.
Support:
STI having immediate support @ 3360 level and below this level it can take support @3340-3320 will be the support zone for STI.
Resistance:
STI having immediate Resistance @3385 and above this level it may take resistance @ 3405-3420 levels.
Technical indicators:
Technical indicators MACD, RSI trading below centreline @ 44.395, CCI currently traded @ -84.785 levels.
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3360 | 3340 | 3320 | 3385 | 3405 | 3420 |
Posts
