WEEKLY REPORT STI

WEEKLY TECHNICAL VIEW ON STI

Weekly Wrap of STI
Strait Times likely to slide on last day of week following Wall Street's losses overnight as economic and geopolitical fears in the
Middle East undermined the appetite for risk, sending equity markets lower around the globe.

STI trades above major Resistance zone of 3060 in 1st four day of the week but due to some technical and fundamentals STI did not
sustain @ its higher levels and closed down by 0.58% wow basis.
Market Forecast for Week Ahead
STI made a high of 3113.02 and previously STI took Resistance and Support at this level many times so its a very crucial level to cross
STI, it is not maintain above this level since past 2 months and again and again facing Resistance this level.

STI trading above its 76.4% retracement level which is already a very higher level and may be for this reason it is in consolidation
phrase and STI stick with the 3120-2950 level.
For the coming days still we feel some consolidation in the market as STI trading @ 3043.49 level and well above than up sloping
trend line so whenever it will not breached this level of 3020 it will be the upper zone and we expect bulls will heavy in the market but
below 3020 level bears may rule the market .

STI Resistance
STI having major resistance @ 3077 level above this level 3118-3135 and 3160 will be the major Resistance for market.

STI SupportSTI having strong support @ its 3020 level and below this level 2990 -2950 will act as a support zone for market... CLICK FOR FREE SUBSCRIPTION