SGX Share Market Live News and Update For July 18

Straits Time Levels For Wednesday:

S1: 2995
S2: 2965
S3: 2945
R1: 3035
R2: 3050
R3: 3080

SGX Stock Market Today:

* Singapore shares hit a 3 -month high today as the STI continues its second-half surge. Traders spent the day salivating at the hope of monetary easing coming from at least one of the world’s biggest economies soon, without a preference for which one.
* Singapore share prices rose 0.5% on Tuesday, breaking through the psychologically important 3,000-mark for the first time since May 3. Straits Times Index gained 16.05 points to end at 3,014.80, as investors bought ahead of US Federal Reserve Chairman Ben Bernanke's testimony to Congress later Tuesday.
* Investors speculated that Bernanke will hint at more monetary stimulus. In the broader market, 1.71 billion shares changed hands, with gainers outpacing losers 200 to 170.
* Singapore's key exports expanded by 6.8 % on-year in June on the back of growth in both electronic and non-electronic exports, according to figures released on Tuesday by International Enterprise (IE) Singapore.

SGX Nifty Predictions for 18/7/2012:

* STI today crossed its 3015 levels but still can’t cross next and important level of 3035, we expect that in the coming days it can breached this level too.
* As we previously mention that technically STI looks strong on charts and if it crossed 2995 levels and maintain this than it could be move towards 3035-3050 levels in near term.
* STI having a major resistance area above the 3000 mark to 3040, as previously STI faced resistance this same levels and cant able to crossed this and this time if it crossed and maintain and crossed than we can see more upward rally in the markets.

SUPPORT:

* STI having nearest support @ 2995 level and below this level it can take support @ 2965-2945 will be the support zone for STI.

RESISTANCE:

* STI having Resistance @3035 and above this level it may take resistance @ 3050-3080 levels.

TECHNICAL INDICATOR:

* Technical indicators are looking Bullish on chart.

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