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SGX Market Review
Stocks opened higher on Tuesday after a New Year rally in European stocks with the key Straits Times Index up 14.28 points or 0.54 % to 2,660.63.
STI opens with gap up and traded higher side whole day opens above 2660 levels and then consolidate @ 2680 levels and then it breached the resistance level of last week @ 2683 and made a day high of 2693.23 and finally closed @2688.36 with gain of 42.01 points up by 1.59%.
A total of 922.3 million shares, valued at $690.4 million, were traded. Gainers outnumbered losers 272 to 73.
Singapore Market Tomorrow
Today STI opens higher and recovers all the last week losses and closed near to days high @ 2688.36. After a 4 trading days STI closed in a positive zone.
STI opens above the previous support level of 2660 and trades higher and also crossed weekly Resistance of 2683 and closed above this level.
As market opens and trades in uptrend and closed near to high so it formed a candlestick pattern called White Opening Marubozu is a single candlestick pattern characterized by a long white body. It has an upper shadow but no lower shadow. This is a strong bullish candlestick pattern.
STI Support
STI having nearest support @ 2660 and below this level it can take support @ 2640-2620 level is the major support level.STI Resistance
STI having Resistance @ 2695 and above this level it may take resistance from 2705-2725-2750 levels.
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