Straits Times Index - Market Outlook 14 Dec

Market forecast:

STI opens above its resistance level of 3140 mark and made high near the next resistance level. Now STI looking bullish on charts, if maintain itself above the 3110 mark.

Now after 3140 level next hurdle for STI comes @ 3180-3220 levels, today STI crossed its 76.4% retracement level from its all time high of 3313 and low of 2521.95.

STI is in bullish phrase as it is trading above the resistance levels and if it will maintain above the 3110 mark it can move further upside.

STI Intraday Support

STI having immediate support @ 3120 level and below this level it can take support @3095-3075 will be the support zone for STI.

STI Intraday Resistance:

STI having immediate Resistance @3165 and above this level it may take resistance @ 3180-3220 levels.

Technical indicators:

Technical indicators are seems to recover from lower levels on charts.