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Wednesday, December 26, 2012

Singapore Market Forecast for 27-Dec

After a holiday STI opens higher and traded on the northern ways and made its 17 months high of 3186.13, closed below the higher level but still up.

Today STI formed a candlestick pattern called white candle with the small upper shadow and no lower shadow, because STI opens and then it traded @ the up trend and after closed slightly down.

STI is in bullish phrase as it is trading above the resistance levels and if it will maintain above the 3140 mark it can move further upside.

STI having immediate support @ 3150 level and below this level it can take support @3120-3095 will be the support zone for STI.

STI having immediate Resistance @3200 and above this level it may take resistance @ 3220-3250 levels.

Technical indicators:
Technical indicators are seem to overbought zone on charts.

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