20 Jul '12, 2pm

Market Outlook (21/07/12): STI Aware Of 3030 Resistance!

Market Outlook (21/07/12): STI Aware Of 3030 Resistance!

Market Outlook (21/07/12): STI Aware Of 3030 Resistance! by Dou on July 20, 2012 In last week, STI gain 20 points from the opening of 2996 and close higher at 3016. A white candle sticks with long upper/lower shadow indicates investors are hesitant on the rally and began to sidelined. Key Economics Data report: Technical Analysis on STI STI index had re-test the critical resistance at 3030 in the past week and but failed to break above this level. 1) In weekly chart, a white candle sticks with long upper/lower shadow similar to Doji indicates on the weakness of the rally. 2) The weekly trading volume fall slightly as investors sidelined for more news ahead. 3) MACD and RSI indicators are flat as RSI trend sideways. 4) STI is currently supported by the support at 3008 5) The critical resistance at 3030 will be very strong and highly possible that investors will take profit ...

Full article: http://thefinance.sg/2012/07/20/market-outlook-210712-sti...

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