Weekly Technical view on STI: Singapore Exchange

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Publish date: Fri, 09 Jan 2015, 07:51 PM

In this week STI opening was not good First day closed by losing 42 points. Singapore shares retreated as oil prices continued to plunge on fears of falling demand in the midst of oversupply, marking a poor start to 2015's first full week of trading. Second day STI gave a gap down opening. Singapore shares remained weak as investor appetite across the region soured after steep falls in oil prices overnight renewed concerns that global growth might be more tepid than expected. Then came into correction mode ,traders remained nervous after oil prices hit new ﬁve-and-a-half-year lows and Greek political turmoil sent the euro skidding. Last day of the week gave gap up opening with 21 points.

STRAIghT TIMES WEEKLY WRAP
OPEN	3368.38
HIGH	3372.34
LOW	3267.89
CLOSE	3338.44
CHANGE (In Points)	-32.15
% CHANGE	-0.96%

Market Forecast for week ahead: The trend of market is expected to be bullish for next week. STI formed hammer on the top of the chart. Currently we have seen unusual volatility in markets due to oil prices crisis and global economic tensions. Asian shares climbed for a third straight day following more advances on Wall Street, while bargain-buying helped oil recover slightly from its latest sell-off. We may see bullish really in next week trading session.

Technical Indicators: RSI is above the centre line which is supporting the uptrend for the week at 55.32 and CCI is also supportive at the level of 48.37. Trading Signals

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3313	3280	3260	3374	3409	3440

Macroeconomic factors:

Singapore legal sector's guiding principle is to serve the people and it must also remain open to the region and the global community if it is to build a world-class legal infrastructure.
China has freed prices of 24 commodities and services, removing all price controls on agricultural products, among other reforms.
Demand for higher returns in Singapore bonds from the city's swelling private banking industry has brought with it greater risks.
Singapore legal sector's guiding principle is to serve the people and it must also remain open to the region and the global community if it is to build a world-class legal infrastructure.
The online classifieds joint venture is now established between Singapore Press Holdings, Norway's Schibsted Media Group and Telenor Group, and South Africa's Naspers.
Singapore Shipping Corporation said it has managed to secure a US$16.5 million ($22 million) seven-year term loan financing facility with a leading Japanese financial institution.
Oil prices were heading for a seventh weekly loss on Friday, with key producers showing no signs of cutting output in the face of a global supply glut.
China's consumer inflation rebounded marginally to 1.5 per cent year-on-year in December, the government said Friday, as slowing growth in the world's second-largest economy keeps a lid on prices.

Sector Allocation Chart by VOLUME

Sector	Volume	Values($)	Rises	Falls	Unchanged
Properties	140,187,950	216,273,670	28	22	36
Multi-Industry	31,776,000	94,566,644	1	7	9
Construction	45,630,000	5,333,810	11	6	24
Commerce	78,111,000	37,784,848	20	16	63
Hotels/Restaurants	1,437,000	786,911	4	2	11
Transport/Storage/Communications	130,512,340	182,734,180	18	13	19
Finance	34,645,400	300,250,347	14	10	22
Manufacturing	298,795,600	139,300,552	36	54	166
Services	479,315,820	133,599,249	33	48	76
Agriculture	46,469,000	26,691,906	3	2	4
Mining	22,654,000	6,179,907	5	2	6
Electricity/Gas/Water	810,000	929,425	0	2	0
Shares in Foreign Currencies	25,442,689	109,679,942	26	9	114
Total	1,335,786,799	1,254,111,391	199	193	550

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