Global Research Limited
SINGAPORE
EXCHANGE
W E E K LY
Technical Report on STI
14th - 18th November 2011
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Global Research Limited
SINGAPORE
EXCHANGE
Straits Time
Figure: 1, Period: Weekly
Straits Time Weekly Wrap
Support 1 2750 Open 2848.24
Support 2 2720 High 2880.12
Support 3 2680 Low 2761.52
Resistance 1 2810 Close 2790.92
Resistance 2 2850 Change (In Points) -57.32
Resistance 3 2885 % Change -2.01%
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Global Research Limited
SINGAPORE
EXCHANGE
Weekly Technical View on STI
WEEKLY WRAP OF STI
Week starts with gain, as it was a short trading week. STI trades in gain on 1st trading day but can't hold this and sheds this and finally
closed down.
STI open this week in gains, @2848.24 , but cant able to sustain that higher levels and fell down and breached its 2800 mark and took
support @ 2761.52 near to last week's low and also 50 day MA level and finally closed below 2800 mark @ 2790.94 with loss of 57.32
points down by more than 2% wow basis.
MARKET FORECAST FOR WEEK AHEAD
STI shown a volatile movement in week, opens and trade higher on the 1st two days but cant sustains above the 2880 levels and fell
from there.
As STI opens higher but cant able to sustains its higher levels as we told in our previous report that STI having a major Resistance @ 2910-
15 levels whenever it will not sustains this level we can expect any good move in future.
As we told in our previous report that If Market breached its 200 week MA level which is @ 2718.77 then it can be more panic in the
market as the global uncertainties there in the market , so this is the another reason to pull down the markets.
For coming days STI having a major Support comes @ 2750 levels and if markets breached this level then it will be more down side in the
markets.
An overall market seems bearish because it is not able to maintain higher levels.
STI SUPPORT
STI having immediate support @ its 2750 levels and below this level 2715-2680 will act as a major Support zone for market.
STI RESISTANCE
STI having immediate Resistance @ 2810 which is good Resistance and above this level 2850-2885 will be the higher zone for
market.
TECHNICAL INDICATORS
Technical Indicators are looking bearish RSI trading below its centreline of 50 @ 44.17.
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