Singapore Stock Market Today 13 April 2011

TECHNICAL VIEW ON STI
 
MARKET REVIEW
STI loosing the string and closed down, it's a second day on the line and today STI closed almost @ its 100 day MA level. STI opens and it fall continuously throughout the day from its 3160.44 levels and made a low of 3127.05, but than finally closed with recovery of 11 points @ 3138 with loss of 22.44 points down by 0.74%.

MARKET FORECAST
STI closed almost at its 100 day MA level of 3137.29 @ 3138 level this was a previously act as a good Resistance level. STI not maintain its higher levels of 3185 levels and again come back from their and took support @ 3127 levels, market taking a some correction or it may be consolidate at these levels.

STI trading above the its 76.4% retracement levels and for this reason it will be consolidating between the range of 3200-2900 and whenever it will not able to sustains above 3220 levels , hard for it to maintaining the higher levels.

SUPPORT
STI having strong support @ 3120 and below this level it can take support @ 3100-3080 levels.

RESISTANCE
STI having Resistance @ 3170 and above this level 3200-3225 will be the small and also major resistance zone for STI.

TECHNICAL INDICATORS
Indicators looking some overbought.