SG Market: Spore shares may open lower following softer Wall Street close on Tue. The market will likely trade sideways in the absence of leads; the recent corporate results have not been particularly inspiring & global concerns continue to weigh on stocks. The STI is currently sitting atop its 50-day MA at 3113 and with momentum indicators – stochastics, ADX, MACD all pointing downwards, expect the index to test the next support at 3080 in the near term.
Should the 50-day MA hold, topside resistance is tipped at 3250.
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