Gold remained relatively unchanged overnight, opening at the intraday high of 1332.75/1333.75. It declined steadily as a string of mostly positive U.S. economic data showed a rise in pending home sales and consumer spending.

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W E E K LY
03rd to 07th March 2014
Global Research Limited
Technical Report on STI
SINGAPORE
EXCHANGE

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Global Research Limited
W E E K LY
Straits Time
Times
Technical Report on STI
Figure: 1, Period: Weekly
Straits Times Weekly Wrap
Support 1
3070
Open
3112.43
Support 2
3050
High
3120.66
Support 3
3020
Low
3081.67
Resistance 1
3115
Close
3101.16
Resistance 2
3145
Change (In Points)
-2.91
Resistance 3
3165
% Change
-0.093

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Global Research Limited
W E E K LY
Straits Time
Times
Technical Report on STI
WEEKLY WRAP OF STI
For the last week of Feb STI dint perform as the previous week as the opening for the first three days for the week i.e. 24th to 26th Feb STI
opened higher but closed lower and gave the red candle, but for the last two trading session it manage to make a positive trend and gave a
green candle and gave the closing at 3101.16 for the week which is very close to the closing of last week 3098.25.
Macroeconomic factors:
Singapore Inflation goes down to 1.4% in Jan where as in Dec it was 1.5%The accommodation cost rose by 2.4 % else in last month it was 2.9%,
Private Road Cost came to 3.5% in Jan as it was 2.8 in Dec.
Slow growth in Singapore's manufacturing sector from the expected for January, by 3.9% compared to last year.
China Aviation oil net profit falls 25% to US13.5Million for Q4.
Service & Manufacturing were the sector that were supported by the biggest volume.
Market Forecast for week ahead:
After 3 weeks on winning strike STI loose some shine and traded below 3100 mark , however STI made week high above major resistance level
of 3115 which is above 20 week EMA level.
STI formed a long legged doji, this candle formed with both side movement and here STI opens above 3100 mark @ 3112.43 and it made
week high at 3121.29 and then it faced resistance at this level and fell below 3100 mark and made week low @ 3080.97 and then closed with
recovery with this movement STI formed a candle with long lower shadow with small upper shadow and thin body as opening and closing for
this week is almost on same level.
For comng week STI may remain upside whenever it traded above 3080 mark, its major resistance will come @ 3115-3145 level. Also
Singapore PMI and Forex Reserve will be announced on 3rd & 7th March
STI RESISTANCE
STI having immediate Resistance @3115 and above this level it may take resistance @ 3145-3165
STI SUPPORT
STI having immediate support @ 3070 level and below this level it can take support @3050-3020 will be the support zone for STI.
TECHNICAL INDICATORS
Technical indicators MACD given its bullish crossover in Daily chart , RSI and CCI are trading in recovery mode , RSI is in oversold zone so
we can expect recovery in it.
Corporate Action & Result Calendar as on 24th Feb 2014

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