Straits Time Index Review: Supports and Resistances

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Straits Time Index (STI)

  • Resistances:  2,914 (78.6% Fibonacci Retracement Level); 3,000 (Psychological Resistance and 50D MA)
  • Supports: 2,840 (20D MA); 2,800 (Psychological Support); 2,678 (Previous resistance turned support); 2,600 (Psychological Support and 61.8% Fibonacci Retracement Level)
  • Trend: Start of Down Trend.

 

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Capitaland: Rebound within a Down Trend Channel

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Capitaland is still trading in a down trend channel. Provided by big bad news to cause Capitaland to break the down trend support, it is expected Capitaland will have short rebound at the current level.

  • Support at about $2.388 which is the down trend channel support and also 23.6% Fibonacci Support.
  • Resistance at about $2.776 which is the down trend channel resistance and also the 38.2% Fibonacci Resistance.

 

 

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Wilmar: Watch the $5.00 Support

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Wilmar has been testing $5.00 for the past 4 occasions. Watch this support closely as breaking down at this support level may kick start very bearish trend for Wilmar. Also take note that Dead Cross has already happened on Wilmar where 20D MA already crossed 50D and 200D MA. Immediate Resistance is at about $5.47.

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