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Strait Times Index Review
Singapore share prices rallied on Tuesday to more than make up for Monday's fall. STI opens higher added 12.83 points or 0.47 per cent to 2,769.32.
STI opens higher above resistance of 2765 and traded higher side as follow the as stronger-than-expected economic data from China boosted market confidence and pushed up commodity, STI traded in the one side and crossed its major Resistance of 2792 and made a high of 2815.85 and finally closed @ day high with gain of 59.36 points up by 2.15%.
On a turnover of $1.44 billion, a total of 1.34 billion shares were traded, where gainers outnumbered losers 292 to 87.
Strait Times Index For Tomorrow
STI unexpectedly given a rally and hits 2-month highs closed above 2800 mark with good gains was trades in a one sided.
STI crossed its multiple Resistance level of 2792 and closed well above this level with forming a highly bullish candlestick pattern which is single candle called white Marubozu pattern characterized with a long white
body having no shadows on either end. It is an extremely strong bullish candlestick pattern.
Now if STI able to sustains above this 2792 levels then we expect that it can touch the 2900 mark soon.
STI Support
STI having nearest support @ 2792 and below this level it can take support @ 2770-2750 level is the major support level.
STI Resistance
STI having Resistance @ 2830 and above this level it may take resistance from 2850-2875 levels.
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