8/3/2019 Weekly Technical Report on STI (14th - 18th Nov 2011)

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14th - 18th November 2011

Technical Report on STIechnical Report on STI

Global Research L imi ted

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WEEKLY

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8/3/2019 Weekly Technical Report on STI (14th - 18th Nov 2011)

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Straits Time Weekly Wrap

Figure: 1, Period: Weekly

Straits Time

Resistance 3

Support 2

Support 3

Resistance 1

Resistance 2

2750

2720

2680

2810

2850

2885

Support 1 2848.24

2880.12

2761.52

2790.92

Open

High

Low

Close

-57.32Change (In Points)

-2.01%% Change

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Weekly Technical View on STI

stWeek starts with gain, as it was a short trading week. STI trades in gain on 1 trading day but can't hold this and sheds this and finallyclosed 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 tooksupport @ 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.

STI shown a volatile movement in week, opens and trade higher on the 1st two days but cant sustains above the 2880 levels and fellfrom 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 themarket 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 themarkets.

An overall market seems bearish because it is not able to maintain higher levels.

WEEKLY WRAP OF STI

MARKET FORECAST FOR WEEK AHEAD

STI having immediate support @ its 2750 levels and below this level 2715-2680 will act as a major Support zone for market.

STI SUPPORT

Global Research L imi ted

STI having immediate Resistance @ 2810 which is good Resistance and above this level 2850-2885 will be the higher zone for

market.

STI RESISTANCE

Technical Indicators are looking bearish RSI trading below its centreline of 50 @ 44.17.

TECHNICAL INDICATORS

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Weekly Technical View on STI

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