4:55 AM
Your Advisor
Market forecast for STI
STI closed near its day low, first STI go upwards and due to un sustainability @ higher levels STI closed @ lower levels and with this STI formed a candlestick which is having a long upper shadow and small real body, this is typically a bearish signal particularly when it occurs near a high price level, at resistance level, or when the security is overbought.
As we saw that from past three trading session STI in unable to cross its higher level of 3070 which is its good resistance level and also above than its 200 day MA level of 3066.95, if STI sustains this level than only we can see some bullish signal in the market otherwise it can move
more downside from this level.
Resistance
STI having Resistance @ 3072 which is a good Resistance zone as this level is good support for STI previously and if sustains than next higher level comes @ 3100-3130.
SUPPORT
STI having strong support @ 3010 level if STI breached this level than it can go for 2965-2935 level soon
Posts
