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Wednesday, January 2, 2013

Singapore Stock Market Forecast 03-Jan 2013

Today, STI crossed its 3200 mark and traded in the uptrend, made and closed above this level. Now looking to crossed higher levels.

Today STI formed a candlestick pattern that is a White Opening Marubozu is a single candlestick pattern characterized by a long white body. It has an upper shadow but no lower shadow. This is a strong bullish candlestick pattern. It formed as opens lower level and made high with good range and closed with little below the high so the upper shadow appears.

STI is in bullish phrase as it is trading above the resistance levels and if it will maintain above the 3150 mark it can move further upside.

STI SUpport Level
STI having immediate support @ 3180 level and below this level it can take support @3150-3120 will be the support zone for STI.

STI Resistance Level
STI having immediate Resistance @3220 and above this level it may take resistance @ 3240-3260 levels.

Technical Indicators
Technical indicators are seems to overbought zone on charts.

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