Shares & Derivatives
STI At Critical Support Zone 2679/2649!
By Dou  •  November 23, 2011

On 23/Nov, Singapore shares ended lower as fears heighten over potential downgrade of France’s sovereign credit rating and weak economic data from China.

STI ended lower at 2676.57 (1.5%) with regular VOL of 1.26 billion shares traded compared with 1.35 billion shares Tuesday. In the broader market, losers outnumbered gainers 277 to 88. Today STI undergo huge selling pressure as China’s preliminary HSBC manufacturing Purchasing Managers Index fell sharply to 48.0 in November compared with a final reading of 51.0 in October.

Headline in STI

Before market close

No news

Technical Analysis on STI

Immediate Resistance of STI: 2679

Immediate Support of STI: 2649

MY sentiment on STI: STI re-test the 2679 support today and closed slightly lower. But all is not lost yet. Tomorrow will be the critical period on whether STI recover back above this important level. More selling will be triggered ...

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By Dou
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