TECHNICAL VIEW
SGX ( STI) MARKET REVIEW
STI traded above its major resistance level and also crossed its 3000 mark, gave closing above the 3000 level @ 3002.75.
STI opens @ 2983.51 and after that made a low of 2980.10 and took support @ that level and from there it was continue trading upwards
and made a high of 3010.85 crossed its 3005 level which is Resistance level and finally closed @ 3002.75 with gain of 19.24 up by 0.64%.
MARKET FORECAST
As we told previously that STI took support @ its 61.8% retracement level of 2920 and clime upwards and today it crossed its 3000 mark
and also closed above this, it is a positive sign for STI.
STI trading below its up slopping trend line and now for coming days this trend line i.e. 3035 level will be the act as a major Resistance level
so if the STI comes above this and maintain this level than only it will be come in the safe zone .
After a breakout of up slopping trend line it is trading @ lower levels and also consolidating there but still not breaching the support level of
2920 if it breaks this level than it will be a cautious situation.
STI SUPPORT
STI having strong support @ 2980 and below this level it can took support @ its 2950 level afterwards 2920 which is its 61.8% retracement
will act as a major Support.
STI RESISTANCE
STI having Resistance @ 3035 and above this level 3070-3100 will be the major resistance zone for STI........ CLICK HERE FOR MORE SGX MARKET LIVE
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