Friday, December 7, 2012

STI Market Outlook for Today 07-Nov

It’s a second day where STI traded in a positive territory and closed higher, as STI trading in a positive side from previous 2 days, it looks further bullish if crossed 3090 resistance level.

Today STI formed a candlestick pattern called spinning top, it’s a single candlestick pattern and bearish reversal pattern with long upper and lower shadow as compare to real body. Real body is small.

STI facing strong Resistance its 3090 levels as previously, it’s not easy for STI to crossed its very quickly and also the last week rally one of the reason for halt . Last week STI traded in a straight upward direction which is the reason of cautiousness in investors.

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 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 Resistance Level
STI having Resistance @3090 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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