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Straits Times Index - Singapore Market Outlook 12 June
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Publish date: Tue, 11 Jun 2013, 08:26 PM
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Market Reviews:
Singapore shares fell to their lowest level this year, largely in line with regional markets, on worries about China's slowing economic growth and continued uncertainty over the U.S. bond-buying programme.
Singapore shares fell to their lowest level this year, largely in line with regional markets, on worries about China's slowing economic growth and continued uncertainty over the U.S. bond-buying programme.
STI
opens gap down @ 3199 levels and it is also a highest level of day,
after opening STI trading in a down side and took support @ 3159.52
levels and finally closed @ 3170.380 with loss of 30.130 down by
0.94%. Some
2.67 billion shares, valued at S$1.66 billion were traded. Losers
outnumbered gainers 410 to 85.
Straits
Times Index dropped as much as 1.3 % to 3,159.52 points today, the
lowest since Dec. 24 last year. STI continuously fall from its recent
high and sheds almost 300 points from that level.
Today
STI crossed its 3160 mark and made low of 3159 only ,below 3150 mark
next support will come @ 3110 mark only and below this level STI will
be more bearish.
Today
STI formed a long black candlestick called "Falling window "a gap
or called window between the low of the 1st
candle and high of the 2nd
candle. Falling window is a bearish formation. It defines a
resistance zone. If future candles do not close in the resistance
zone especially above the critical
resistance line then
this bearish effect remains valid.
Support:
STI having
immediate support @ 3150 level and below this level it can take
support @ 3110-3085 will be the support zone for STI.
Resistance:
STI having
immediate Resistance @ 3210 and above this level it may take
resistance @ 3240-3280 levels.
Technical
indicators:
Technical
indicators MACD is bearish, its
14-day RSI closed below 30 trading @ 22.002, and level indicating
shares are oversold. And CCI recovers some points and trading
@-129.003.
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3150 | 3110 | 3085 | 3210 | 3240 | 3380 |
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