Singapore Stock Market Forecast for 30th Jan 2013

Market forecast:

After making high @ 3276 levels STI facing resistance to crossed this level and closed below 3260 levels @ 3259.

STI next resistance comes @ 3285 levels and we can see some pressure at STI to cross this higher levels and if it will crossed this level then it can move towards 3300 levels soon.

STI having support @ its previous resistance level i.e. 3240 mark and if STI crossed this level then we can see lower levels and 3220-3195 will act as a major support zone for STI.

Support:

STI having immediate support @ 3240 level and below this level it can take support @3220-3195 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3280 and above this level it may take resistance @ 3300-3320 levels.

Technical indicators:

Technical indicators are seems to overbought zone on charts.