STI Technical Analysis - 27 Aug, 2015

STI Market Review

• Singapore share prices opened lower with the STI down 26.63 points or 0.92 per cent to 2859.66 and ended 13.29 points or 0.46% lower to 2873.00. STI came off from its intra-day peak of 2905.29 and low of 2847.17. 

• Singapore in early trade rebounded after gap down open moved in positive territory due to declartion of rate cut in China but it came down due to increase of selling pressure latter in the market and closed in red.

STI Forecast

STI is to takeside ways trend. It has its resistance at 2928, if it breaks this level it is expected to go up to level of 2947 and it has its support at 2800. However, market sentiment still remains bearish as they did not find China's rate cut sufficient to control the global meltdown due to slowing growth of Chinese economy.

STI Day Performance

Open	2859.66
High	2905.29
Low	2847.17
Close	2873
Change (in points)	-13.29
% Change	-0.46%
Volume	2306.40M
Rise	201
Fall	240
Unch	353

STI Levels

Support 1	2800
Support 2	2738
Support 3	2600
Resistance 1	2928
Resistance 2	2990
Resistance 3	3055

Market Highlights

• Singapore market opened 1.43 per cent or 41.20 points higher at 2,914.20, due to possible US Federal Reserve delay in interest rate hike.

• STI up more than 2%.

• Hupsteel & Union Steel swings down for Q4, full-year.

• IEV unit has filed writ against Indonesian company.

• GuocoLand Q4 profit down by 42%.

• Imperium Crown's net profit has gone up by S$11.98m for year ended June.

• Guocoland reported a 42 per cent break in net profit for the fourth quarter ended June 30, 2015, to S$107.31 million.

• Union Steel Holdings fourth-quarter results down with a net loss of S$8.4 million.

• Hupsteel had a net loss of S$9.3 million for the fourth quarter, due to an inventory write-down, a goodwill write-off and provision for doubtful debts.

• Asian stocks are up as Wall Street rally calms markets, & dollar surges.

• Dollar gains due to Wall St rebounds from 6-day rout.

• China interbank liquidity crunch has eased, but relief may be fleeting.

• Greece's Tsipras rules out at forming national unity government.

• Oil went down after mixed US petroleum supply report.

• Gold has started struggling as equities recover after China rate cut.

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