10:48 PM
Admin
Market Reviews:
For
the 2nd
week STI opens lower and closed lower,
tracking losses in most regional markets as expectations of the
Federal Reserve pulling pack its easy monetary policy gathered steam
on the back of better-than-expected U.S. jobs data Friday.
STI
opens @3161.95 and made day high @ 3165.50 then goes down side and
made day low @ 3132.07, after taking support at this level STI
recovers near to day high and finally closed @3155.47 with loss of
14.26 down by 0.45%.
Some
2.00 billion shares, valued at S$1.00 billion were traded. Losers
outnumbered gainers 292 to 121.]
Market
forecast:
STI
traded lower and breached its support level of 3150, took support @
3132 levels, which is not a good sign for coming days.
STI
formed a candlestick pattern called “below stomach” this is 2
candle patterns, with market in an uptrend. Long
white real body. Next
session opens below middle of prior white real body and closes at or
below that level. Trend shifts from up to down.
Support:
STI having
immediate support @ 3140 level and below this level it can take
support @3120-3095 will be the support zone for STI.
Resistance:
STI having
immediate Resistance @3160 and above this level it may take
resistance @ 3185-3205 levels.
Technical
indicators:
Technical
indicators MACD turn to bearish , its
14-day RSI is in recovering mode and closed @ 45.05 and CCI recovers
again and trading @ 7.19.
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