Tuesday, December 4, 2012

STI Market Outlook For Today 04-Dec 2012

SUPPORT 1
SUPPORT 2
SUPPORT 3
RESISTANCE 1
RESISTANCE 2
RESISTANCE 3
3040
3020
2995
3085
3100
3120

After last week’s performance, STI sheds some points today and closed below its 61.8% (3110.86-2931.60) retracement level.

STI formed a candlestick pattern with long upper shadow and short lower shadow and small body on the lower side of the candle, as its open higher fell down loss of good points and recovers some points and closed in negative territory.

STI is in bullish phrase as it is trading above the resistance levels and if it will maintain above the 3020 mark it can move further upside.

STI Support Level
STI having nearest support @ 3040 level and below this level it can take support @3020-2995 will be the support zone for STI.

STI Resistance Level
STI having Resistance @3085 and above this level it may take resistance @ 3100-3120 levels.

Technical Indicators
Technical indicators are seems to recover from lower levels on charts.

 
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