SGX Updates: Technical view on STI for 10th Dec

Market Review:

Singapore Index STI were stable after a 4 straight days losing streak, supported by positive sentiment in the regional market after China released upbeat trade data.

STRAITS TIME LEVELS
Support 1	3095
Support 2	3065
Support 3	3040
Resistance 1	3130
Resistance 2	3150
Resistance 3	3165

Singapore shares open @ 3122.14 and then it made day high @ 3126.01 but can’t able to sustain this level and fell down. Took support at 3108.18 level and also closed on lower levels with loss of 0.530 points @3113.64 down by 0.02%

Some 2.35 billion shares, valued at S$1.01 billion were traded. Gainers numbered 210 while losers numbered 186.

Market forecast:

STI trading below its support line of triangle pattern and continuously crossing all support level which is bearish signal for coming days.

As per the technical outlook of STI , currently it is in bearish trend and also crossed its ajor support zone 3100 in last week. So for further improvement in trend STI need to maintain it self above 3165 mark.

Support:

STI having immediate support @ 3095 level and below this level it can take support @3065-3040 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3130 and above this level it may take resistance @ 3155-3165

Technical indicators:

Technical indicators MACD, RSI and CCI are turning lower.