Straits Times Index (STI Outlook for 21/11/2011 to 25/11/2011)

Posted on Nov 20, 2011 2 Comments    Posted under: Home Post, SG MarketWatch

Straits Times Index (STI Outlook for 21/11/2011 to 25/11/2011)

Although the STI managed to cover the gap resistence in mid week, the bearishness in Europe hampened it rebound and caused it to retrace again. The retracement went deep and the STI eventually broke its support to trade lower. On the technical charts, various indicators currently show the STI weakening with a possible downward momentum to test it’s next level of support at 2683 points.

What to watch out for:
Bullish: whipsaw and trade back above 2755
Next resistance to watch: 2904

Bearish: continue to go lower
Next support to watch: 2683

2 Comments + Add Comment

  • Singapore shares were higher at noon on Friday with the Straits Times Index gaining 3.17 points, or 0.11 per cent to 2,897.60. A total of 870.3 million shares, valued at $634.4 million, were traded where gainers outnumbered losers 215 to 99.

    • A veteran bknaer described the current subprime and financial crisis in US banks and investment firms as the worst he has seen in his 50 years in banking. What’s more, these banks and firms do not know if the worst is over or even more losses to come. There is also great uncertainty in the US economy (recession), inflation and interest rates, oil prices and regional politics. So the next few months may be exciting times in the stock market for some bargains for long term investment. It may pay to wait. This happens once in a long while. The last time was in 1998 (asian financial crisis and also political turmoil in Thailand, Malaysia, Indonesia) and STI was at it’s lowest.

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