Wednesday, December 12, 2012
8:25 PM Admin
Singapore shares climbed to a 16-month high, Singapore shares rose for the 6th straight day and crossed its 3040 resistance level and made a high of 3145.
STI opens with gap @ 3134.37 and then it traded in the straight upside and made a high of 3145, after making high it turns and took support @ day low of 3123.47 ,finally closed @ 3141.57 with gain of 23.24 points up by 0.75%.In the broader market, 2.35 billion shares changed hands. Gainers and losers were nearly evenly matched, at 200 to 204 respectively.
STI crossed its resistance level of 3140 mark and made high above this level. Now STI looking bullish on charts, if maintain itself above the 3110 mark.
Now after 3140 level next hurdle for STI comes @ 3180-3220 levels, today STI crossed its 76.4% retracement level from its all time high of 3313 and low of 2521.95.
STI is in bullish phrase as it is trading above the resistance levels and if it will maintain above the 3110 mark it can move further upside.
STI having immediate support @ 3120 level and below this level it can take support @3095-3075 will be the support zone for STI.
STI having immediate Resistance @3165 and above this level it may take resistance @ 3180-3220 levels.
Technical indicators are seems to recover from lower levels on charts.