8:58 PM
Admin
Market reviews:
Singapore's
Straits Times Index slipped 1.5 % to 3,243.43, the lowest close since
March 4.
STI
opens gap down @ 3278.75 levels and just recovers 2 points and made
day high @ 3280.62 and faced resistance at that level and badly fell
below its support zone and made day low 3231.25. Finally closed with
some recovery @ 3243.43 with loss of 47.92 points down by 1.46%.
Some
3.39 billion shares, valued at S$1.93 billion were traded. Losers
outnumbered gainers 348 to 119.
Market
forecast:
It’s
a 3rd
straight day of tumbling STI, it loose almost 100 points from its
weekly opening and continuously dragging down.
As
on the opening of week STI fell below its rising line
since
March which took support @ 3234.67, 3264.08, today it crossed last
support of this rising line of 3234.67 and made day low @ 3231.25
marks.
As
STI continuously dragging down, now it can took support@ lower level
of 1 year rising channel level i.e. 3210 mark but if it will cross
this mark then we can see free fall in STI soon.STI
dragged more than 23.6% from its Oct 2012 lower level i.e. 2689 and
recent high of 3464.
Support:
STI having
immediate support @ 3210 level and below this level it can take
support @3180-3160 will be the support zone for STI.
Resistance:
STI having
immediate Resistance @3260 and above this level it may take
resistance @ 3285-3305 levels.
Technical
indicators:
Technical
indicators MACD is bearish, its
14-day RSI closed below 30, and level indicating shares are oversold.
And CCI already trading in a negative zone i.e. -185.114.
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3210 | 3180 | 3160 | 3260 | 3285 | 3305 |
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