Singapore and Malaysia Stock Market Technical Analysis Report

Market forecast for STI: Today’s performance of STI makes a Red candle & the formation of inverted hammer, where it has a small real body and a long shadow. Further the Moving Average Envelops shows that the STI is in consolidate phase and trading in a tight range where it’s becoming difficult for STI to sustain above the level of 3100.
Technical indicators:
RSI is under the base line @40.87 & MACD is moving flat where the CCI is performing at -151.88

STRAITS TIME  LEVELS
Support 1	3045
Support 2	3032
Support 3	3020
Resistance 1	3065
Resistance 2	3080
Resistance 3	3095

 Important Factor for today:-

• 30.2% increase in share price of Asiatravel between Tuesday & Wednesday further SGX made a red alert for it.
  
• SGX is about to revise the fee structure which will be applicable from 2nd May 2014 as to make the trading more cost effective the clearing fee would be reduced by one fifth from 0.04% to 0.325% of contract value.
  

Market Review for KLCI:
Today KLCI opened at 1814.29 and touched the high of 1818.17 further closed at the high. Today the green candle was formed for the day.
Market forecast for KLCI:

Hammer Pattern was formed by the todays candle with the small body and long shadow. Studding the Bollinger Bands it can be said that the KLCI is in the Over Sold position and can take a recovery for the up side. Where there is a flat move for the EMA.
Technical indicators:
RSI is just bellow the base line @48.19. Where the CCI is performing at -92.44.

KLCI LEVELS
Support 1	1805
Support 2	1792
Support 3	1778
Resistance 1	1825
Resistance 2	1838
Resistance 3	1852