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Market Reviews:
STI closed on positive node on 3rd consecutive day, above 3165 mark and crossed its 38.2% retracement level.
STI closed on positive node on 3rd consecutive day, above 3165 mark and crossed its 38.2% retracement level.
STI
opens with gap up @ 3167.92 and after that made a high of 3176.77.
STI traded in a narrow range, finally closed @ 3169.91 with gain of
15.070 points up by 0.48%.
Its highest close since Oct. 1, 2013.
Volume was 3.28
billion shares worth S$1.09 billion. Gainers outnumbered losers 288
to 130.
Market forecast:
STI
opens and traded above 3165 mark, also crossed its 38.2% retracement
level, which is positive sign if it will maintain itself above this
mark.
STI looks
bullish on daily chart as trading upwards after taking support on
lower levels. Also as it is trading above the resistance levels so
giving the confirmation.
Support:
STI having
immediate support @ 3150 level and below this level it can take
support @3130-3110 will be the support zone for STI.
Resistance:
STI having
immediate Resistance @3185 and above this level it may take
resistance @ 3205-3220
Technical
indicators:
Technical
indicators MACD, RSI and CCI all are seem to taking support at lower
levels and turning from those levels.
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