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STI Singapore Stock Market Forecast For 19-April

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Publish date: Thu, 18 Apr 2013, 08:16 PM
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Market reviews:
Singapore's shares ended flat Thursday, largely shrugging off sharp drops on Wall Street overnight following weak European economic data and disappointing U.S. earnings reports.

STI opens flat @3292.80 and made a day high @ 3300.83 after making high it comes down and took support @3281.89 and finally closed @ 3296.370 with gain of 4.910 up by 0.15%.

Gainers outnumbered losers 284 to 161, and trading volume was a shade lower at 2.24 billion shares compared with 2.34 billion Wednesday.

Market forecast:
Today again STI trading in a very narrow range as previous day, but closed for the day with gain of 0.15%, STI can't able to sustain above 3300 mark.

STI facing strong Resistance at its 3300 mark, Index made a white small candlestick pattern called, which denotes that market opens lower and closed above previous day's closing.

Support:
STI having immediate support @ 3270 level and below this level it can take support @3250-3220 will be the support zone for STI.

Resistance:
STI having immediate Resistance @3305 and above this level it may take resistance @ 3320-3335 levels.

Technical indicators:
Technical indicators MACD, RSI and CCI all bearish.

Support 1Support 2Support 3Resistance 1Resistance 2Resistance 3
327032503220330533203335
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