Singapore Index extended losses for a 7th session, down 0.7% at their lowest close since September 2013.while most Asian share markets lurched lower as investors booked profits on a range of once-crowded positions, largely to the benefit of bonds and the detriment of the U.S. dollar.
Singapore shares open @ 3077.16 and then it made day high @ 3082.43 but can’t able to sustain this level and fell down badly crossed major support zone of 3065 and made day low @ 3056.55 also closed at 3060.74 with loss of 20.98 points down by 0.68%.
Some 1.43 billion shares, valued at S$1.06 billion were traded. Gainers numbered 106 while losers numbered 289.
STRAITS TIME LEVELS
STI trading below its 3 months lower levels and today it closed below support level of 3065 mark, which is bearish sign for market.
STI again formed a long black candlestick pattern which opens on day high or near to day high and closed at day low, all day bears were dominate bulls and finally win the battle for a day. This single candle is bearish in nature and shows more down trend in near future.
As per the technical outlook of STI, currently it is in bearish trend and also crossed its major support zone 3065. So for further improvement in trend STI need to maintain it self above 3165 mark.
STI having immediate support @ 3040 level and below this level it can take support @3015-2990 will be the support zone for STI.
STI having immediate Resistance @3095 and above this level it may take resistance @ 3120-3140
Technical indicators MACD, RSI and CCI are turning lower.