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Singapore Stock Market Review
Singapore equities opens higher today after US and European shares rallied overnight on better-than-expected economic data from China, Germany and the United States.
Straits Times Index added 25.18 points or 0.94 % to 2,713.54 in the opening and then it fell down and breached the 2700 mark and took support @ 2694 levels and again takes a turn and closed near to days high of 2711.02 with gain of 22.66 points up by 0.84%.
As STI closed stronger its Volume was 865.70 million shares worth $832.10 million. There were 174 decliners versus 168 risers.
STI Forcast
Today STI opens higher but not sustain the higher level and fell down and made a low of 2694 and took support at this level and again recovers and closed near to days high.
STI opens above the Resistance level of 2695-2705 and also closed above this level, technically STI trading @ its down slopping trend line which was act strong Resistance past few months and STI cant able to cross this line . This line draws by lower highs.
With the previous day movement today also STI 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 @ 2690 and below this level it can take support @ 2660-2640 level is the major support level.
STI Resistance
STI having Resistance @ 2725 and above this level it may take resistance from 2740-2755 levels.
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