8:54 PM
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Macro
Economic Factors:
- SINGAPORE'S non-oil domestic exports (NODX) fell 4.6 % year-on-year in May, extending the 1% dip in April. Compared with the month before, the NODX dropped a seasonally-adjusted 1.1 % in May, following the 1.1 %month-on-month expansion in April.
- Singapore’s home sales rose 5.4 % in May as developers marketed new projects, according to the Urban Redevelopment Authority.
Market
Forecast for week ahead:
- STI decline week on week and crossing all support levels, this week it made lower level near to its 3040 mark which is strong support.
- It’s a 5th continuous fall after making its recent high, as it trading between its 78.6% and 61.8% retracement level, so we are expecting that STI can take support @ 2966 level which is its 61.8% retracement mark.
- We expect more down fall in STI of more 100 points as on weekly graph STI having one support @ its up slopping trend line which ended @ 3000 mark and below this next support comes @ 2960 level.
STI
Resistance:
- STI having Resistance @ 3180 and above this level it may take resistance from 3215-3250 levels.
STI
Support:
- STI having nearest support @ 3095 below this 3040-3000 will be the support area for market.
Technical
Indicators:
Technical
indicators are giving Bearish impression.
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3095 | 3040 | 3000 | 3180 | 3215 | 3250 |
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