Tuesday, September 18, 2012
12:29 PM Admin
Direction of STI Singapore - Market Forecast 18-Sept
It’s a 5th straight session when STI closed higher side in positive node.STI crossed and closed very near to its 3080 mark @ 3078.72.
STI faced resistance @ previous higher level of 3088 mark and its down slopping trend line on weekly graph. Once it will crossed this level than we can see up side movement in market.
We can see in the daily graph the two moving average crossovers i.e. 50 &20, 20 day MA crossing its 50 day MA from lower side which is a positive signal for market. Technical indicators are looking in recovering mode on charts.
SupportSTI having nearest support @ 3060 level and below this level it can take support @ 3040-3020 will be the support zone for STI.
STI having Resistance @3090 and above this level it may take resistance @ 3100-3120 levels.