| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3175 | 3150 | 3125 | 3215 | 3235 | 3265 |
STRAIT TIMES WEEKLY WRAP
|
|
OPEN
|
3184.09
|
HIGH
|
3202.79
|
LOW
|
3163.01
|
CLOSE
|
3201.27
|
CHANGE (In Points)
|
24.02
|
% CHANGE
|
0.75%
|
Weekly wrap of STI:
Singapore shares rose for a second
session on last day of week, of course for their biggest weekly gain
in one month, as investors were encouraged by the prospect of
extended US monetary stimulus.
Week starts below 3200 mark @ 3184.09
and then it crossed 50 week MA level i.e 3179.28 and made week low @
3163.01 and took support at this level, after taking support STI made
high of 3202.79 and closed near to high @ 3201.27 with gain of 24.02
points up by 0.75% wow basis.
Macro-Economic:
Singapore's non-oil
domestic exports (NODX) probably fell year-on-year for a 9 straight
month in October, albeit at a slower pace as Western economies
recover. In September, domestic exports fell 1.2 % from a year
earlier. The median of the poll is for exports to have fallen 0.8 %
in October.
SINGAPORE'S retail sales slipped 5.9 %
in September compared to a year ago as sales of motor vehicles and
telecommunications apparatus & computers suffered double digit
declines. Month-on-month (seasonally adjusted), retail sales edged up
0.5 % as sales of vehicles improved over August by 19.1 %. Excluding
sales of vehicles, however, retail sales declined 2.5 %.
Market Forecast for week ahead:
- STI closed above 3200 mark near to weekly high; however it just crossed 3200 mark and closed @ 3201.27.
- STI closed with recovery after 3 weeks lower trend. Maintain to close above its 50 week MA level of 3179.27.
- For coming week if STI could maintain itself above 3175 then it can cross 3250 mark and below 3175 STI can be bearish biased.
STI Resistance:
- STI having Resistance @ 3215 and above this level it may take resistance from 3235-3265 levels.
STI Support:
- STI having nearest support @ 3175 below this 3150-3125 will be the support area for market.
Technical Indicators:
Technical indicators are in recovery
mode, RSI closed @50.91 and CCI trading in positive mode.
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