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STI Market Outlook for The Week Ahead - 03rd to 07th Dec

Your Advisor
Publish date: Fri, 30 Nov 2012, 08:45 PM
Your Advisor
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Following Message
SUPPORT 1
SUPPORT 2
SUPPORT 3
RESISTANCE 1
RESISTANCE 2
RESISTANCE 3
3015
2995
2965
3090
3115
3145
STI trading above its 61.8% retracement level of 3013.15 (3313.61, 2921.95), and closed well above this level.

STI formed a candlestick pattern called White Opening Marubozu is a single candlestick pattern characterized by a long white body. It has an upper shadow but no lower shadow. This is a strong bullish candlestick pattern.

For the coming week STI look volatile, because it is trading near the resistance level of 3090-3110 and face some pressure to breach this level if crossed the resistance then we can see the continue uptrend.

STI Weekly Support Levels
STI having nearest support @ 3015 below this 2995-2965 will be the support area for market.

STI Weekly Resistance Level
STI having Resistance @ 3090 and above this level it may take resistance from 3115-3145 levels.

Technical Indicators
Technical indicators suggest the impression of being in recovery mode.

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