8:35 PM
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Singapore Stock Market review
The Singapore market opened mixed on Thursday following further contraction in Singapore's manufacturing sector and as euro zone concerns persisted.
Straits Times Index rose 2.21 points or 0.08 per cent to 2,713.23 and after opening it consolidates some time and then it took support@ 2708 levels and then boom and crossed its 50 day MA level and made a day high of 2733.86 and then consolidate @ higher level and fell from that higher level and closed @ 2713.02
levels with gain of 2 points up by 0.07%.
On a turnover of $710.9 million, a total of 847 million shares were traded where gainers outnumbered losers 176 to 157.
SGX Forcast
STI was taking a good rally today it crossed its 50 day MA level after a month move,it was trading below its MA level and also closed with gain.
STI crossed its down slopping trend line which was a strong Resistance for STI from past few months and STI cant able to cross this line . This line draws by lower highs.
And today STI crossed this and sustain above this line.
STI formed a spinning top which is a candle with a small real body. Spinning tops identify a session in which there is little price action as defined by the difference
between the open and the close. During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
Singapore Stock Market support
STI having nearest support @ 2690 and below this level it can take support @ 2660-2640 level is the major support level.
Singapore Stock Market Resistance
STI having Resistance @ 2735 and above this level it may take resistance from 2755-2775 levels.
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