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SGX SINGAPORE) TECHNICAL VIEW
MARKET REVIEW
Today very range bound movement in the STI; whole day Market trades in narrow range but in the opening and closing hour market has a
good movement.
STI opens @ 3170.33 and then made a low of 3157.42 but took support @ those levels and recovers and made a high of 3174.21 and
finally closed @ 3171.65 with very nominal gain of 1.32 points up by 0.04%.
MARKET FORECAST
STI closed near to day's high of 3174.21 @ 3171.65 and this is the major Resistance level too, STI maintain to hold its Resistance level of
3170 but cant crossed the next level of 3180.
Today STI forms a spinning top, it is a candle with a small real body, Spinning tops identify a session in which there is little price action
during a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble. As market
hold its resistance level and cant sustains above this level.
As we previously told that above 3170 level STI having small Resistance level and these are important too because before this rally these
levels act like a Multiple Support and Resistance for STI.
STI SUPPORT
STI having strong support @ 3140 which is multiple resistances previously now act as a support and below this level it can take support @
3110-3085 levels.
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