Shares in Singapore closed mixed on Wednesday amid concerns over the US budget deadlock.
The Straits Times Index rose 8.34 points, or 0.27 per cent, to end at 3,154.84.Volume was 3.5 billion shares.
In the broader market, losers led gainers 224 to 196.
Golden Agri-Resources was steady at S$0.515, Noble Group ended unchanged at S$0.955, while Wilmar International added 0.63 per cent to close at S$3.22.
City Developments rose 1.8 per cent to S$10.19, CapitaLand gained 0.65 per cent to S$3.12, while Hongkong Land closed 0.3 per cent higher at US$6.32.
Among banks, DBS climbed 0.2 per cent to S$16.37, UOB advanced 0.5 per cent to S$20.62, while OCBC was up 0.2 per cent at S$10.20.
Singapore Airlines eased 0.39 per cent to S$10.15.
Market Review:
STI closed o positive node on 2nd
consecutive day, above 3150 mark.
STI opens @3135.72 and then it made day
low @ 3132.94 and then it was traded higher side and made day high @
3162.74 and then trading in a narrow range and finally closed @
3154.84 with gain of 8.34 points up by 0.27%.
Volume was 3.507
billion shares worth S$967.6 million. Losers outnumbered gainers 224
to 196.
Market forecast:
Today STI open above its historical
support level of 3130 and maintain this level whole day which is good
sign.
As STI took support at its support
levels and now trading in it turning direction, so we can say if it
will continue the trading above 3175 mark which is 38.2% retracement
level. So it will be more bullish.
Technical view on STI
|
STRAITS TIME
LEVELS
|
|
|
Support 1
|
3130
|
|
Support 2
|
3110
|
|
Support 3
|
3080
|
|
Resistance 1
|
3165
|
|
Resistance 2
|
3185
|
|
Resistance 3
|
3205
|
Support:
STI having immediate support @ 3130
level and below this level it can take support @3110-3080 will be the
support zone for STI.
Resistance:
STI having immediate Resistance @3165
and above this level it may take resistance @ 3185-3205
Technical indicators:
Technical indicators MACD, RSI and CCI
all are seem to taking support at lower levels and turning from that
levels.
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