weekly technical report on sti (28th nov - 2nd dec 2011)
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8/3/2019 Weekly Technical Report on STI (28th Nov - 2nd Dec 2011)
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28th November - 02nd December 2011
Technical Report on STIechnical Report on STI
Global Research L imi ted
www.capitavia.com.sg
WEEKLY
SINGAPORE
E X C H A N G E
8/3/2019 Weekly Technical Report on STI (28th Nov - 2nd Dec 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
2630
2580
2520
2715
2750
2820
Support 1 2730.34
2730.34
2643.54
2643.93
Open
High
Low
Close
-86-41Change (In Points)
-3.27%% Change
Global Research L imi ted
www.capitavia.com.sg
SINGAPORE
E X C H A N G E
8/3/2019 Weekly Technical Report on STI (28th Nov - 2nd Dec 2011)
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Weekly Technical View on STI
thThis is the 4 week where the market tumbles; markets crossed all the major support levels this week, breached its 200 week MA leveland closed below this level.
Singapore stock exchange down near to support level of 2715 and same day crossed its 2700 mark and again recovers and made aweekly high of 2730.34, but cant able to sustains these levels and fell from there and finally made a low of 2643.54 and closed @ weekly
lower level @ 2643.93 with loss of 86.41 points down by 3.27% wow basis.
The market is expected to remain volatile this week as growing problems in Europe's debt crisis continue to keep investors on their toes.
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 wowbasis and also making lower levels on weekly basis and this week it breached its major Support level of 200 week MA level of 2714.33.
As market was in down trend in the whole week, so it formed a bearish candlestick pattern called Black Marubozu which is highlybearish candle as it opens on higher and closed on lower levels there is no shadows in this candlestick pattern.
Market looking more bearish if it crossed 2630 levels and sustain itself below this level, at this level STI having a multiple Support level if
crossed then it would be more down side.
WEEKLY WRAP OF STI
MARKET FORECAST FOR WEEK AHEAD
STI having immediate support @ its 2630 levels and below this level 2580-2510 will act as a major Support zone for market.
STI SUPPORT
Global Research L imi ted
STI having immediate Resistance @ 2715 which is good Resistance and above this level 2750-2820 will be the higher zone for market.
STI RESISTANCE
Technical Indicators are looking bearish RSI trading below its centreline of 50 @ 37.64.
TECHNICAL INDICATORS
SINGAPORE
E X C H A N G E
Weekly Technical View on STI
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