STI is running the risk of uptrend reversal

STI is running the risk of uptrend reversal Again, STI experienced a strong start for the week but test 3080 resistance level on last Monday. The strong start comes with easing of economic tension but the bullishness was soon to ease off. STI failed to break 3080 despite its attempts for 2 days in a row. STI started to retrace before the national day holiday after China announced with economic … [Read more...]

Daily Market Opinion for 10-Aug-2012

Daily Market Opinion for 10-Aug-2012 On Wednesday, STI was seen retracing further as traders unload their position for the national day holiday. STI started flat during the opening and did attempt to climb higher but sellers were waiting there. Further selling started when HSI opened and participant of the market became concern of the weak economic data from China. Selling pressure was seen for … [Read more...]

Daily Market Opinion for 8-Aug-2012

Daily Market Opinion for 8-Aug-2012 STI attempted to break 3080 level again yesterday. STI opened with a slight gap up and surge above 3080 level during the early trading session. However, sellers were waiting for their chance to exit at this resistance level. STI went tumbling down after reaching as high as 3086 level. Strong selling pressure was seen after lunch hours causing STI to hit as low … [Read more...]

Daily Market Opinion for 6-Aug-2012

Daily Market Opinion for 6-Aug-2012 STI form a year high yesterday after positive reports from the US & European markets. STI started with a strong gap up in the opening and attempted to trade higher. STI reached as high as 3086 level before sellers attempted to profit take. 3080 resistance level seems to be a strong resistance level which prevents STI from going higher. Before the market … [Read more...]

STI’s uptrend likely to continue but trend reversal risk is still possible.

STI's uptrend likely to continue but trend reversal risk is still possible. Last week, STI faces bullish reaction in the market as fears of crisis subsided after speculations of stimulus is to be emplaced. This brought buyers to enter the market on Monday which lead STI to test 3030 major resistance. Despite a gap down start on Tuesday, the buyers still managed to push STI above 3030 level with … [Read more...]

Uncertainty and Volatility to persist in STI.

Uncertainty and Volatility to persist in STI. STI experienced a volatile week last week as economic news were affecting the market sentiment. First, news of Spain requiring a bailout package shook the market during the early week. This caused STI to open the week with 33pts lower and hitting as low as 2973 level. Despite expectations for STI hitting as low as 2950 level, STI refused to test … [Read more...]