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Straits Times Index - Technical Outlook for 18 Dec
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Publish date: Tue, 18 Dec 2012, 08:47 AM
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Market
forecast:
STI
opens above 3160 levels and made a new high of 3173.22, but faced
resistance @ this level and fell down.
Now
after 3140 level next hurdle for STI comes @ 3180-3220 levels, today
STI crossed its 76.4% retracement level from its all time high of
3313 and low of 2521.95.
STI
is in bullish phrase as it is trading above the resistance levels and
if it will maintain above the 3110 mark it can move further upside.
Support:
STI having
immediate support @ 3140 level and below this level it can take
support @3120-3095 will be the support zone for STI.
Resistance:
STI having
immediate Resistance @3180 and above this level it may take
resistance @ 3200-3220 levels.
Technical
indicators:
Technical
indicators are seems to recover from lower levels on charts.
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