Singapore Stock Market Forecast for Next Week 18-22 March

Market Forecast for week ahead:

• If we see past few years chart then we find that from Nov 2010 to March 2013 STI crossed its 3300 mark thrice and every time it faced resistance near the 3320 mark.

• STI formed a candlestick pattern called “Black Spinning Top” is a single candlestick pattern. Its shape is a small black body with upper and lower shadows having a greater length than the body's length. If a Black Spinning Top is observed after a long rally or long white candlestick, this implies weakness among the bulls and it is a warning about a potential change or interruption in trend. This is applicable in case of STI.

• For coming week STI looks neutral, whenever STI breached either side above 3320 and below 3220 the movement we will see the same.

STI Resistance:

• STI having Resistance @ 3320 and above this level it may take resistance from 3335-3350 levels.

STI Support:

• STI having nearest support @ 3265 below this 3240-3220 will be the support area for market.

Technical Indicators:

Technical indicators are giving missed impression.MACD seems to give bearish crossover.RSI trading above its centreline @ 67.66 and CCI near to its bullish zone @ 83.940

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3265	3240	3220	3320	3335	3350

STI Singapore Technical Outlook for 15-March

MARKET FORECAST

STI cant able to sustains above 3300 mark longer and again fell below this @ 3300 and today closed @ 3279.50 levels.

After making recent high @ 3317.42, STI formed candlestick Pattern shooting start and this candle denotes weakness in the market and shows that bears hold the power and that true as after that its 2nd day where STI traded at lower levels.

Again STI trading between the slopping lines, and now it is having support @ 3250-3220 levels and for higher levels it's necessary for STI to maintain itself above 3320 mark.

STI Intraday Support Levels

STI having immediate support @ 3265 level and below this level it can take support @3250-3220 will be the support zone for STI.

STI Intraday Resistance Levels

STI having immediate Resistance @3300 and above this level it may take resistance @ 3320-3335 levels.

Technical Indicators

Technical indicators MACD, RSI and CCI all are in recovery mode with today's move. As we can see in the chart, RSI trading above its centreline @ 51.77 but CCI crossed its -100 level and closed @ -5.255 which is bearish signal.