STI Technical Analysis - 01 Sept, 2015

STI Market Review

• Singapore shares opened 0.5 per cent higher, with the STI up 13.82 points to 2,969.76 following a mixed session for US markets before the weekend. and ended 34.50 points or 1.17% lower to 2921.44. 

• STI came off from its intra-day peak of 2921.44 and low of 2921.44. Investors look to individual counters after days of mass selling followed by mass buying as volatility hit global markets. The result is a mixed morning trading session in Singapore. STI ended in red.

STI Day Performance

Open	2987.18
High	2987.18
Low	2921.44
Close	2921.44
Change (in points)	-34.5
% Change	-1.17%
Volume	1268.20M
Rise	155
Fall	244
Unch	396

STI Levels

Support 1	2905
Support 2	2850
Support 3	2800
Resistance 1	3000
Resistance 2	3050
Resistance 3	3115

Market Forecast

• STI is to take side ways trend. Its suport level is at 2904, if breaks this level it is expected to go up to level of 2800, it has its resistance at 3000. 

• However, market sentiment still remains bearish due to expectation of increase in US interest rate by FED in september.

Market Highlights

• Singapore shares opened almost flat, with the Straits Times Index up 0.88 points to 2,922.32 despite overnight weakness in US equities.

• Chinese stocks fall at market open.

• Sembcorp Marine has clinched a approx US$1 billion engineering, procurement and construction contract to build three topsides for the Culzean Field development in the North Sea.

• Singtel has completed purchase of a 98 per cent stake in cyber security firm Trustwave for a lowered price of US$770 million.

• Chinese Global Investors Group will resume trading today.

• Singapore listed companies lost approx S$83b in value in August.

• Asian market turmoil is forcing Croesus Retail Trust to rethink deal terms.

• Asian shares nervous ahead of China data.

• Oil prices leap 8% on lower US output and Opec signal

• Dubai gold retailer defaults on US$136m.

• Asia-Pacific crude is weighed by Slow demand.

• Dollar lowers as investors seek Fed rate hike clues.

• Singapore eases to 0.6% in July in Growth in bank lending.

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