STI Today's Review and Market Forecast for tomorrow 29 March

MARKET REVIEW
After a winning strike of last week on the very first day on new week STI closed with some lose. STI opens @ 3070.84 at days high but not sustains that higher level and made a low of 3044.33 and finally closed with some points of recovery @ 3057.38 losses of 13.46 points down by 0.44%.

MARKET FORECAST
As we told in our previous reports that STI having a trading range of 2950-3120 and it is moving between this range only and before last week STI breached this 2950 level and made a low of 2919 took support @ its 61.8% retreatment level.

Today STI faced Resistance @ 3070 level which is its previous multiple support as well as Resistance level, so now this level again act as a Resistance for the Market and also it took support @ up slopping trend line today. So the coming days , STI have to maintain above its 3070 levels for upwards rally and also not to breached its up slopping trend line level if breached then it can go further down side.

SUPPORT
STI having strong support @ 3020 and below this level it can take support @ 2990-2960 levels.

RESISTANCE
STI having Resistance @ 3070 and above this level 3100-3130 will be the major resistance zone for STI.

TECHNICAL INDICATORS
MACD turn to be bullish phrase as it gave bullish crossover and also RSI reverse with today move, from up to down side but still maintain
above its centreline of 50 @ 52.24.

Straits Times Index- Singapore Market Weekly outlook 21-26 March

Weekly Wrap of STI
Strait Times breached its major support level of 3040 and sustains below this whole the week and took support @ 2919.98 below its 61.8% retracement level.
STI opens just below its 50 week MA level @ 3043.49 and trades below this level whole the week, took support below its 61.8% retracement level of 2919.98, the retracement level was @ 2925.81, and closed just above this level of 2935.78 with loss of 107.71 points down by 3.54%.

Market Forecast for Week Ahead

 
STI made a high of 3043. 49 in opening session as STI having support level @ 3040 which is up slopping trend line level, and STI breached this level and sustain also below this and took support below its 61.8% retracement level on weekly graph and for coming days this will be the major support level for market. STI was trade in the 3150-2950 range from past some days and now STI breached this range and closed below this level so now we can say that it is in downtrend and now it can go more 100-150 points. For the coming days still we feel some consolidation to downtrend as market is near to its 61.8% retracement level and expected that
it will take support @ this level and if it will not sustains this level than it will go more down side.

STI Resistance
STI having major resistance @ 2950 level above this level 3000-3050 will be the major Resistance for market.

STI Support
STI having strong support @ its 2910 level and below this level 2870-2840 will act as a support zone for market.

Technical Indicators
Technical Indicators are in bearish zone RSI trading @ 36.42 and MACD is also in bearish zone.

Singapore Stock Market Review and STI Forecast

MARKET REVIEW
STI plunge more than 100 points today's trade and breached all the decisive support levels and closed below major support level of 2965 @ 2946.08.
STI opens with 21 points of gap and made a low of 2932.35 and consolidate day long between 2960-2940 levels and finally closed @ 2946.08 with loss of 84.78 points down by 2.80%

MARKET FORECAST
STI breached its up slopping trend line today i.e. 3025 level on daily graph and also break all the immediate support level too and closed below major Support level of 2965 @ 2946.08.

STI took support just above its 61.8% and 76.4% Retracement level Daily & Weekly charts respectively, as we told previously that if STI breached its 61.8% retracement level on weekly chart than it can move 100-150 points down side.

SUPPORT
STI having strong support @ 2920 which is its 61.8% Retracement level if STI breached this level than it can go for 2885-2855 level.

RESISTANCE
STI having Resistance @ 2975 and above this level 3005-3035 will be the major resistance zone for STI.