Singapore Stock Market- Forecast and Technical Outlook for 1st March 2011

MARKET REVIEW
STI opens and closed above 3000 @ 3010.51 after that made a low of 2988.10, but cant sustains there and recovers from its low and maintains itself to close above 3000 mark. STI breached its support level of 2990 and made a low of 2988 but finally close for the day @ 3010.51 with loss of 14.65 points down by 0.48%.

MARKET FORECAST
As we told in our weekly report that STI trading @ its up slopping trend line and trying to maintain itself above this trend line and today also it were closed above this trend line and not sustains below this which is good sign of recovery, If STI will maintain this level than it can go upwards and if it can't sustains and we can see more down trend in the market.

SUPPORT
STI having strong support @ 2985 level if STI breached this level than it can go for 2965-2945-2920 level soon as STI having its 76.40% retracement level @2921 level so this level will act as a strong support zone for Market.
RESISTANCE
STI having Resistance @ 3035 which is a good Resistance zone as STI were not able to sustain this level from past 2 days and if sustains than next higher level comes @ 3070-3100.

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