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Today Market Review for SGX
Shares opened stronger today following forecast-beating results by some major US companies, which drove the rally in Wall Street overnight.
Singapore index Straits time open above its 3000 mark @3004 and made a high of 3007.61, after open high STI consolidate whole day and made a low of 2995.59 and finally manage itself to close above the 3000 mark @ 3000.58 with gain of 13.99 points up by 0.47%.
Volume was 1,666.7 million shares worth S$1.03 billion. Gainers outnumbered losers 228 to 162. Singapore's index rose by midday, supported by a gain in Singapore Exchange Ltd after the bourse reported a better than expected result.
SGX Stock Market Tomorrow
After yesterdays bearish move today STI recovers all the yesterdays’ losses and closed higher side above its 50 day MA level of 2987.09.
STI opens up with gap and sustains the level of opening. So for the coming days if it sustains above 3000 mark than we expects that it will go the next resistance level of 3035 and sustains this.
STI is trading in a consolidation phrase and its range is 2940-3035, so whenever it will not crossed either side we can’t expect any big move.
STI Support
STI having nearest support @ 2985 level and below this level it can take support @ 2965-2945 level is the major support zone.
STI Resistance
STI having Resistance @ 3015 and above this level it may take resistance @ 3035-3050 levels.
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