SGX Singapore Stocks & Forex Live Picks
Singapore Stock Market - Technical Outlook 13-June 2013
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Publish date: Wed, 12 Jun 2013, 08:34 PM
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Market Reviews:
Singapore
shares fell to their lowest level this year, largely in line with
regional markets, today again.
STI
opens gap down @ 3151.41 levels then it made day high @ 3168.71 and
again trading in a lower levels and made day low @ 3147.03 and
finally closed just above its opening level @ 3155.995 with loss of
16.90 points down by 0.53%.
Some
2.26 billion shares, valued at S$1.37 billion were traded. Losers
outnumbered gainers 295 to 152.
Straits
Times Index dropped again 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 3150 mark and made low of 3147 only ,below 3150 mark
next support will come @ 3110 mark only and below this level STI will
be more bearish.
STI
still looking bearish as it is trading below 78.6% retracement level
and below its 6 months lower level which is again a bearish sign.
Support:
STI having
immediate support @ 3110 level and below this level it can take
support @3085-3050 will be the support zone for STI.
Resistance:
STI having
immediate Resistance @3170 and above this level it may take
resistance @ 3195-3220 levels.
Technical
indicators:
Technical
indicators MACD is bearish, its
14-day RSI closed below 30 trading @ 21.72, and level indicating
shares are oversold. And CCI coming down some points and trading
@-126.155.
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3110 | 3085 | 3050 | 3170 | 3195 | 3220 |
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