STI - Market Forecast for Week Ahead 08-12 Oct

STI Levels - Week 08-12 Oct

It’s a good come up of STI, closed its 14 month high and crossed the strongest hurdle of 3088 and closed above the 3100 psychological level.

On the weekly chart STI crossed its down slopping trend line and closed well above this level trading. As we told in our previous report that STI trading above its 61.8% retracement level for this reason we can see some consolidation to upward move in the markets and same we saw this week below 3088 mark it consolidate and once it crossed this barrier bloom .

For the coming week STI look volatile to upward if it will maintain the 3100-3088 mark. Technical indicators looking bullish.

STI Support Level

STI having Resistance @ 3130 and above this level it may take resistance from 3155-3185 levels.

STI Resistance Level

STI having nearest support @ 3088 below this 3050-3020 will be the support area for market.