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Singapore Stock Market Forecast 08-March

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Publish date: Thu, 07 Mar 2013, 08:27 PM
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Market Review:
STI open with good gap today and closed @ its high level. In line with regional bourses.

Singapore share prices opened higher with more than 24 points of gap @ 3272.65 and then made a low of 3265.94 and traded higher and made day high @ 3291.81 finally closed @ day high @ 3291.81 with gain of 43.55 points up by 1.34%.Volume was 6.07 billion shares. Gainers led losers 268 to 232.

 Market forecast:
Today STI took a good bounce back and closed @ day high above the 3285 mark @ 3291.81.

STI open up above its yesterdays Doji as well day before long black candle and closed higher, it looks as took support @ its recent lower levels and now trading in a down slopping channel, and it will be bullish if crossed resistance line.

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 levels soon.

Support:
STI Technical Levels
STI Technical Levels
STI having immediate support @ 3265 level and below this level it can take support @3250-3220 will be the support zone for STI.

Resistance:
STI having immediate Resistance @3300 and above this level it may take resistance @ 3315-3330 levels.

Technical indicators:
Technical indicators MACD, RSI and CCI all are in recovery mode with today's move. As we can see in the chart, RSI trading above its centreline @ 57.475 and CCI closed @ +27.126
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