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STI Singapore Market Forecast 01-March
Your Advisor
Publish date: Thu, 28 Feb 2013, 09:04 PM
Your Advisor
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Market forecast:
Market turns from its recent low of 3250.87, and closed
with gain on 2nd consecutive day but not able to sustain the higher
levels.
Today STI formed a candlestick pattern called "Three inside Up", another name for the Confirmed Bullish Harami Pattern. The
third day is confirmation of the bullish trend reversal.
The first 2
days of this pattern is simply the Bullish Harami Pattern, and the third day
confirms the reversal suggested by the Bullish Harami Pattern, since it is a
white candlestick closing with a new high for the last three days. The
reliability of this pattern is very high.
Now for coming days 3250 will act as a major support
zone because if STI break this level then it will be more bearish and can touch
3220-3190 levels soon.
Support:
STI
having immediate support @ 3260 level and below this level it can take support
@3240-3220 will be the support zone for STI.
Resistance:
STI
having immediate Resistance @3285 and above this level it may take resistance @
3300-3315 levels.
Technical indicators:
Technical
indicators MACD, RSI and CCI all are in bearish mode. As we can see in the
chart, RSI trading above its centreline @ 51.878 and CCI recovers some points
from -119.93 today closed @ -70.947
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
