10:06 AM
Admin
MARKET REVIEW
Singapore shares climbed by midday, extending their gains for the fourth consecutive session. It was a super rally by STI.
STI opens above 2970 level @ 2973.46 and then it extended it gain by midday and made a day high @ 2990.02 and closed just below day high level @ 2986.63 with gain of 26.33 points up by 0.89% .Volume was 2.92 billion shares valued at S$1.24 billion. Gainers led losers 280 to 126.
STI MARKET OUTLOOK FOR TODAY 23-NOV
£Singapore shares traded well above its 200 day MA level of 2974.18 and closed above this level which is good sign for further move.
It's a 4th straight gain in STI and its formed a bullish candlestick pattern called White Opening Marubozu it 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 trading above 2970 mark today which is good recovery sign, if it will sustain above this level then shortly will see more upside trading in STI.
STI Support Level
STI having nearest support @ 2960 level and below this level it can take support @ 2940-2920 will be the support zone for STI.
STI Resistance Level
STI having Resistance @2995 and above this level it may take resistance @ 3010-3035 levels.
Technical indicators
Technical indicators are seems to recover from lower levels on charts.
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