Singapore Stock Exchange (SGX)
STI SUPPORT
STI having strong support @ 3100 and below this level it can take support @ 3070-3050 levels.
STI RESISTANCE
STI having Resistance @ 3150 and above this level 3170-3190 will be the small and also major resistance zone for STI.
TECHNICAL VIEW
MARKET REVIEW
STI sheds previous days gain and loss it's more than 30 points in the opening session and closed @ 100 day MA level.
STI opens @ day's high of 3163.68 but can't sustain the higher levels due to global market weakness and fell more than 30 points and made a
low of 3126.80 @ its 200 day MA level and finally closed @3136.48 with loss of 27.20 points down by 0.86%.
MARKET FORECAST
STI, breached its 100 day MA level, and took support at its near to its 200 day MA level of 3126.31 @ 3126.80, and closed just above its 100
day MA level of 3135.57 @ 3136.48. as we previously told STI having a strong support zone between 3150-3100 levels.
STI formed a long black candlestick with the strong bearish signals; this black candle sheds past two days profit and closed days low.
As STI closed below its major support zone of 3135 i.e. 100 day MA level, so we expect further down trend in the market and also @this level
some strong technical indicators are coming together, like its 200 Day MA denote with blue line comes @ 3124 major support zone comes @
3116 denoted with white horizontal line and below this its 50 day MA level comes @ 3108.35 denoted with yellow line. So STI can take
support on these levels or if it will cross these levels than it can go more down side.,,,, CLICK HERE FOR SGX NIFTY TIPS
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