Straits Time Index
Singapore's Straits Times Index lost 1.2% to a near 3-month low.Index ended weaker on Thursday, Singapore underperforming the region as fears over a possible reduction in the U.S. Federal Reserve's stimulus dented the sentiment, a day ahead of U.S. job data.
Singapore shares open @ 3143.39 and then it made day high @ 3151.98 but can’t able to sustain this level and fell badly below support level and made low of 3120.94 and finally closed @ 3124.38 with loss of 36.32 points down by 1.15%.
Some 2 billion shares, valued at S$1.2 billion were traded. Gainers numbered 119 while losers numbered 294.
STRAITS TIME LEVELS
STI trading below its support line of triangle pattern and continuously crossing all support level which is bearish signal for coming days.
Today STI took support @its multiple support level i.e.3120 mark , but closed just near to this level, so if STI will able to maintain itself below this mark then we can see more bearish move.
As we mention in our weekly report that STI trading within a symmetrical triangle and today it breached this symmetrical triangle pattern. Now from this level if STI will reverse then we can see some up move or on the other hand it looks bearish according to pattern.
STI having immediate support @ 3120 level and below this level it can take support @3095-3060 will be the support zone for STI.
STI having immediate Resistance @3150 and above this level it may take resistance @ 3165-3185
Technical indicators MACD, RSI and CCI are turning lower.