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Singapore Stock Market Technical Outlook 28-May 2013
Your Advisor
Publish date: Mon, 27 May 2013, 08:21 PM
Your Advisor
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Market reviews:
After last week fall, STI open lower today and traded in a good range but closed lower for day.
STI opens with gap @ 3388.03 and then it made day low @ 3384.48 and recovers from that lower level and made day high @ 3403.41 but cant able to sustain that level and closed below 3400 mark @ 3391.30 with loss of 1.870 down by 0.06%.
Some 2.57 billion shares, valued at S$1.45 billion were traded. Gainers outnumbered losers 281 to 156.
 |
| STI Technical Chart - Intraday |
Market forecast:
STI trading in a lower levels, it opens below 3400 mark and closed also below this level, but today trading range was quite good .
Today STI formed a candlestick pattern called A Spinning High Wave, also called a High Wave candle, is candlestick that has an open and close price near each other which produces a small real body and colour is of no importance. They also have long upper and lower shadows that significantly exceed the length of the body. These types of candlesticks indicate indecision and subsequent consolidation.
From this level STI looking sideways to downwards because it trading near to support levels and if it crossed this support level it will be more bearish.
STI Intraday Technical Support:
STI having immediate support @ 3380 level and below this level it can take support @3366 -3340 will be the support zone for STI.
STI Intraday Technical Resistance:
STI having immediate Resistance @3405 and above this level it may take resistance @ 3420-3440 levels.
Technical indicators:
Technical indicators MACD, RSI trading below centreline @ 49.75, CCI currently traded @ -52.17 levels.
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3380 | 3366 | 3340 | 3405 | 3420 | 3440 |
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