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STI Singapore Market Weekly Forecast 22-26 July

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Publish date: Fri, 19 Jul 2013, 09:05 PM
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Market Forecast for week ahead:
  • After 3 weeks of uptrend, STI closed lower this week. But the positive thing it was maintain itself above 32oo mark.
  • STI formed a candlestick pattern called The "Tweezer Top" is a moderately reliable, bearish, reversal candlestick formation consisting of two candles that are generally seen at the end of an uptrend. The first candlestick in the pattern is a rising white candle, while the second candlestick is a declining black candle.  The Tweezer Top generally establishes a line of resistance at the high point of a weakening up trend and is often an indication the market is headed lower. 
  • If STI maintain above 3200 mark and breached its previous 2 weeks high then we expect upward in Index and if it will crossed 3180 and maintain below then bear will take charge in market.
STI Resistance:
  • STI having Resistance @ 3235 and above this level it may take resistance from 3265-3295 levels.
STI Support:
  • STI having nearest support @ 3180 below this 3140-3120 will be the support area for market.
Technical Indicators:
Technical indicators are giving positive impression.


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