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STI Singapore Weekly Outlook for 14-18 Jan 2013
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Publish date: Fri, 11 Jan 2013, 08:51 PM
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STI has taken a rest this week as it traded sideways in narrow range after its previous upside rally. This positive move of the index is expected to be continued if it continues to sustain at current levels.
If STI continues to sustain above 3200 levels then further positive move may be seen in it and may test its resistance levels of 3281.
Though breach of support level at 3198 it may fall till the levels of 3150.
STI Weekly Support
STI having strong support @ 3198 and below this level 3150-3105 will be the major support zone for coming week.
STI Weekly Resistance
STI having nearest resistance @ 3240 level, above this level 3281-3315 will be the major Resistance for market.
Technical Indicators
Technical Indicator RSI and MACD are lying in overbought zone, so the sideways move may be continued in STI. Also sustaining at current levels upside move should continue.
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