Singapore SGX Stock News and Forecast :-

Straits Time Levels For Thursday:

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

Market Review of July 18:

* Asian markets mostly fell on Wednesday after US Federal Reserve Chief Ben Bernanke warned of a further slowdown in the US economy and a "frustratingly slow" rise in employment.
* Singapore share opens higher @ day high of 3024.99 and then it fell down and took support @ 3000 mark and in the 2nd half again traded higher side and finally closes @ 3017.21 with gain of 2.41 down by 0.08%.
* There was also an element of profit booking on today after the benchmark gained in previous sessions.
* In the broader market, 1.51 billion shares changed hands, with losers outnumbering gainers 247 to 144.

Market Forecast for July 19:

* STI facing resistance its 3025 levels and cant able to crossed this level and fell down, but finally closed near to day opening.
* STI formed a candlestick pattern called a spinning top it is a candle with a small real body. Spinning tops identify a session in which there is little price action as defined by the difference between the open and the close. During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
* 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 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.