STI Singapore Stock Market Outlook - 16 Oct 2013

Market Reviews:

Week starts with lower node and STI closed below its 38.2% retracement level.

STI opens lower@ 3180.69 and continuous fall finally took support @ 3155.31 and then finally closed @ 3165 with loss of 14.46 point down by 0.46%.

Volume was 1.9 billion shares worth S$557.9 million. Losers outnumbered gainers 305 to 121.

Market forecast:

STI fell sharply today, after 4 days uptrend. Closed below its 38.2% retracement level it was a biggest decline almost in 2 weeks.

STI opens trade in lower side and continue fell whole day, now from this level it can be more bearish for short term.

Support:

STI having immediate support @ 3150 level and below this level it can take support @3130-3110 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3185 and above this level it may take resistance @ 3205-3220

Technical indicators:

Technical indicators MACD, RSI and CCI all are seem to crossing its lower levels.