8:52 PM
Admin
Market Reviews:
Singapore's
Straits Times Index slipped 1.5 % to 3193.51, the lowest close since
March 2013.
STI
opens gap down @ 3211.16 levels and just recovers 10 points and made
day high @ 3221 and faced resistance at that level and badly fell
below its 3200 mark and made day low 3187.73. Finally closed with
loss of 49.92 points down by 1.54% @ 3193.51.
Some
2.5 billion shares, valued at S$1.73 billion were traded. Losers
outnumbered gainers 345 to 87.
It’s
a 4rd
straight day of tumbling STI, it loose almost 150 points from its
weekly opening and continuously dragging down.
STI
we told in our previous report that STI
continuously dragging down, and only support level left that is its 1
year rising channel level i.e. 3210 mark but today it opens below
this level and closed well below this channel which is a bearish
sign.STI dragged more than
23.6% from its Oct 2012 lower level i.e. 2689 and recent high of
3464.
Today
STI formed a long black candlestick called “Falling window “a gap
or called window between the low of the 1st
candle and high of the 2nd
candle.
Falling window is a bearish formation. It defines a resistance zone.
If future candles do not close in the resistance zone especially
above the critical
resistance line then
this bearish effect remains valid.
Support:
STI having
immediate support @ 3160 level and below this level it can take
support @3110-3085 will be the support zone for STI.
Resistance:
STI having
immediate Resistance @3210 and above this level it may take
resistance @ 3240-3280 levels.
Technical
indicators:
Technical
indicators MACD is bearish, its
14-day RSI closed below 30 trading @ 22.002, and level indicating
shares are oversold. And CCI already trading in a negative zone i.e.
-194.146.
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3160 | 3110 | 3085 | 3210 | 3240 | 3280 |
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