STI Singapore Technical Outlook tomorrow


MARKET REVIEW
STI opened flat in today's trading session and it has again taken resistance from higher levels. It showed negative side movements in the first half of the trading session and sustained below the support level of 3125. In the second half, it
consolidated with negative biasness, breaching the support level of 3110 it made day low of 3101.48. STI recovered later and closed at 3113.76 with the loss of 39.81 points, down by 1.26%.

MARKET FORECAST
As STI is continuously taking resistance from higher levels, so in coming session negative movement can be expected in it. Day after day it is making a high below its previous high. So it can be interpreted that it is not able to sustain at higher levels. STI crossed its 3110 mark today but did not sustain below this and consolidated sideways, if it breaches its 3110 level again and sustain below
it, a further downside can be seen. And below the support level at 3090 it is looking weak on charts.

SUPPORT
STI having strong support @ 3090 and below this level it can take support @ 3077-3063 levels.

RESISTANCE
STI having Resistance @ 3145 and above this level 3183-3200 will be the major resistance zone for STI.

TECHNICAL INDICATORS
Technical indicator MACD seems to support the negative side movement and daily RSI also seems to support this and it closed @ 43.03

1 comments:

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