Global Research Limited

SINGAPORE
EXCHANGE

W E E K LY

Technical Report on STI

21st - 25th November 2011

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Global Research Limited

SINGAPORE
EXCHANGE

Straits Time

Figure: 1, Period: Weekly

Straits Time Weekly Wrap

Support 1 Support 2 Support 3 Resistance 1 Resistance 2 Resistance 3 2715 2680 2650 2810 2850 2885 Open High Low Close Change (In Points) % Change 2790.94 2842.55 2730.34 2730.34 -60.60 -2.21%

www.capitavia.com.sg

Global Research Limited

SINGAPORE
EXCHANGE

Weekly Technical View on STI

WEEKLY WRAP OF STI

It was a 3rd uninterrupted week where the market lost the ground and closed lower , but still holds its 200 week MA level and didn't breached this level. Singapore stock exchange opens higher on 1st trading day of the week because of western market gains, but cant able to hold the higher levels and rapidly breached its major support area of 2800 and finally closed at weekly lower level @ 2730.34 with loss of 60.60 points down by 2.21% wow basis.

MARKET FORECAST FOR WEEK AHEAD

STI shown a volatile movement in week, opens higher almost every trading day but cant able to holds the higher levels and finally closed near to support. STI weekly chart shown three big black candles, which is not really a three black crow's pattern but still looking bearish on charts, as prices closed significantly lower than they opened. Candle appears as prices break below a support area; the long black candle confirms the failure of the support area. Over all as the global sentiments are weak and with this effect STI also not able to sustain the higher levels and making new lows wow basis and now it is having major support @ its 200 week MA level of 2716.90 levels.

STI SUPPORT
STI having immediate support @ its 2715 levels and below this level 2680-2650 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 @ 41.34.

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