8:33 PM
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Market Reviews:
Singapore shares recovers from lower level and closed in positive mode, despite a weak batch of US economic data boosting hopes that the Federal Reserve would put off announcing any winding down of its vast stimulus scheme at the end of a policy meeting this week.
STI opens gap down @ 3150.50 marks then it recovers from its lower level of day @ 3144.57 and made day high @ 3195.45. Finally closed @ 3183.44 with gain of 22.01 points up by 0.70%.Some 1.85 billion shares, valued at S$1.22 billion were traded. Gainers outnumbered losers 260 to 162
SINGAPORE'S non-oil domestic exports (NODX) fell 4.6 % year-on-year in May, extending the 1% dip in April. Compared with the month before, the NODX dropped a seasonally-adjusted 1.1 % in May, following the 1.1 %month-on-month expansion in April.
Singapore’s home sales rose 5.4 % in May as developers marketed new projects, according to the Urban Redevelopment Authority.
Market forecast:
Straits Times Index rose 0.7 % today, pulling away from a 6 month trough of 3,094.86 hit last week. Today is the 1st trading day of this week and STI recovers from lower levels, we can expect recovery in this week.
STI formed a white long candlestick pattern which is bullish candle as opens lower and closed higher so we can expect some more recovery in this week.
Technical Support: Intraday
STI having immediate support @ 3165 level and below this level it can take support @3140-3110 will be the support zone for STI.
Technical Resistance: Intraday
STI having immediate Resistance @3195 and above this level it may take resistance @ 3220-3250 levels.
Technical indicators:
Technical indicators MACD is bearish, its 14-day RSI closed above 30 trading @ 33.484, and level indicating shares are oversold. And CCI recovered some points and trading @ -78.567.
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3165 | 3140 | 3110 | 3195 | 3220 | 3250 |
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