On 16/Feb, Singapore shares ended lower on possibility of a messy Greek default.

STI ended lower at 2977.20 (1.1%) with LOW VOL of 1.84 billion shares traded compared with 2.56 billion shares Wednesday. In the broader market, losers outnumbered gainers 370 to 80. Today STI undergo heavy selling pressure on default concerns for Greece.

Headline in STI

No news

Technical Analysis on STI

Immediate Resistance of STI: 3005

Immediate Support of STI: 2936

MY sentiment on STI: STI pullback on news of possible default for Greek but the selling pressure is contained which affirms that investors are merely taking profit off the recent gains. The index has failed to break the 3005 resistance convincingly and likely to pullback in the weeks ahead. Do not suggest buying now.

STI Failed To Break 3005 Resistance Convincingly! is contributed by : Singapore Stock Information Exchange