8:23 PM
Admin
Market Reviews:
Singapore
equities opens higher today above its 3320 mark @ 3323.81 mark and
then it comes slightly down level and made day low @ 3311.76 and took
support at this level and traded again the upwards and finally made
day high @ 3331.26 and finally closed @ 3321.77 mark with gain of
4.18 points up by 0.13% .
Today
again Singapore closed @ its week high level and gainers leads losers
223-216. Volume
was 3.28 billion shares valued at S$1.42 billion.
Market
forecast:
STI
opens above the resistance level of 3320 and closed above this mark.
It’s a positive sign for coming days.
STI
closed just below the opening level and with this formed a
candlestick pattern called “Black
Spinning Top” it is a single candlestick pattern. Its shape is a
small black body with upper and lower shadows having a greater length
than the body's length.
The
market moves higher and then sharply lower, or vice versa. It then
closes below the opening price creating a black body. This represents
complete indecision between the bulls and the bears. The actual
length of the shadows is not important. The small body relative to
the shadows is what makes the spinning top
STI
just closed above the resistance line and it is a bullish signal as
STI closed @ Resistance of 3320-3322 mark also cross this level but
cant able to sustain above this level, and today it closed very near
to this mark.
Support:
STI having
immediate support @ 3295 level and below this level it can take
support @3280-3260 will be the support zone for STI.
Resistance:
STI having
immediate Resistance @3335 and above this level it may take
resistance @ 3350-3365 levels.
Technical
indicators:
Technical
indicators MACD, RSI and CCI all are in recovering with today’s
move.
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3295 | 3280 | 3260 | 3335 | 3350 | 3365 |
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