Singapore Market Analysis: Rebound lifts Singapore shares, but averages keep pressure in view
The Straits Times Index (STI) and DBS Group posted daily gains, but both remain below their 20-day and 50-day averages. The STI is attempting to stabilise above its pivot after a 4.44% 20-day decline. USD/SGD is close to its pivot, with momentum readings near neutral. US Unemployment Claims on Thursday at 16:30 UAE time are the main scheduled event for the next 48 hours.
What to watch today
- STI: 5457.76 last high, 5446.47 support and 5548.32 20-day average.
- USD/SGD: 1.2785 pivot, 1.2773 support and 1.281 resistance.
- DBS Group: 75.00 resistance area, 74.71 support and 75.98 20-day average.
- US Unemployment Claims: Thu 22 Oct at 16:30 UAE, forecast 200K versus 199K previous.
Technical analysis
Straits Times Index (STI)
Bearish5,456.19The Straits Times Index (STI) remains below its 20-day average at 5548.32 and 50-day average at 5646.58 despite rebounding from the 20-day low at 5362.72.
- Last close
- 5,456.19
- 1 day
- +0.97%
- 5 days
- +0.61%
- 20 days
- -4.44%
- SMA 20
- 5,548.32
- SMA 50
- 5,646.58
- RSI 14
- 39.1
- ATR 14
- 67.82
- 20-day range
- 5,362.72 – 5,749.66
- Daily pivot
- 5,402.68
The Straits Times Index (STI) closed at 5456.19, gaining 0.97% on the day, while its 20-day performance remains down 4.44%. The close is above the pivot at 5402.68 and the pivot resistance levels at 5425.25 and 5446.47, suggesting that the latest session recovered the recent pivot area.
However, the index is still below the 20-day average at 5548.32 and the 50-day average at 5646.58. The RSI, a momentum measure, is 39.06, which shows weak momentum without being in the usual oversold zone. The 14-day ATR, a measure of typical daily movement, is 67.82, so moves around the 5457.76 last high and 5446.47 support may be significant.
USD/SGD
Neutral1.2778USD/SGD is below its 20-day average at 1.2795 but above its 50-day average at 1.2751, remaining within the recent 20-day range of 1.2756 to 1.2871.
- Last close
- 1.2778
- 1 day
- -0.15%
- 5 days
- -0.15%
- 20 days
- +0.22%
- SMA 20
- 1.2795
- SMA 50
- 1.2751
- RSI 14
- 48.6
- ATR 14
- 0.0040
- 20-day range
- 1.2756 – 1.2871
- Daily pivot
- 1.2785
USD/SGD closed at 1.2778, down 0.15% on the day and 0.15% over five days. The price is just below the pivot at 1.2785 and below the 20-day average at 1.2795, while remaining above the 50-day average at 1.2751.
The RSI is 48.6495, indicating broadly balanced momentum. The nearest reference levels are pivot support at 1.2773, the 20-day low at 1.2756, and resistance at 1.2785 and 1.281. With an ATR of 0.004, short-term moves can extend beyond nearby levels, particularly around the scheduled US release.
DBS Group (D05.SI)
Bearish74.99DBS Group remains below its 20-day average at 75.98 and 50-day average at 76.53, although the latest close is near the upper end of its recent daily range.
- Last close
- 74.99
- 1 day
- +0.75%
- 5 days
- +0.87%
- 20 days
- -3.48%
- SMA 20
- 75.98
- SMA 50
- 76.53
- RSI 14
- 45.2
- ATR 14
- 1.26
- 20-day range
- 72.50 – 78.56
- Daily pivot
- 74.47
DBS Group closed at 74.99, up 0.75% for the session and 0.87% over five days, but its 20-day performance remains down 3.48%. The close is above the pivot at 74.47 and pivot resistance at 74.71, while the 20-day and 50-day averages remain higher at 75.98 and 76.53.
The immediate price area is concentrated around 75.00 and the latest high at 75.07. The RSI is 45.23, reflecting subdued momentum, and the ATR is 1.26. If the rebound loses momentum, the pivot at 74.47 and pivot support at 74.18 provide lower reference levels.
Market events (next 48 hours)
| Time (UAE) | Currency | Event | Impact | Forecast | Previous |
|---|---|---|---|---|---|
| Thu 22 Oct, 16:30 UAE | USD | Unemployment Claims | Medium | 200K | 199K |
The main scheduled event is US Unemployment Claims on Thursday, 22 October, at 16:30 UAE time. The forecast is 200K versus a previous reading of 199K, and the release is marked as medium impact.
The release is most directly relevant to USD/SGD, where a stronger or weaker result than expected can produce short-term US dollar volatility. Through currency-market sentiment, the move may also coincide with changes in attention toward Singapore equities. Traders may therefore monitor the 1.2785 pivot, 1.2773 support and 1.281 resistance around the release.
Algo insight: how a rules-based system treats today
A rules-based algorithmic approach would treat the STI and DBS Group as weak-trend instruments because prices remain below both their 20-day and 50-day averages. It would measure expected movement using ATR: 67.82 for the STI, 0.004 for USD/SGD and 1.26 for DBS Group. Any risk distance would need to reflect those different volatility scales rather than using the same absolute distance for every instrument.
Position sizing can be reduced when ATR expands or when price approaches several nearby levels at once. Around the 16:30 UAE US claims release, a rules-based system may avoid opening new exposure or may wait for volatility to settle before assessing whether a level has held. Session timing and liquidity conditions should also be included in the rules, with no assumption that a single indicator guarantees an outcome.
Important: This analysis is general market commentary produced for educational purposes and is not investment advice, a recommendation or a solicitation to trade. Price data comes from public sources and may be delayed or contain errors. Trading foreign exchange, commodities, crypto-assets and equities carries a substantial risk of loss. Fino Ways LLC does not manage client funds and does not guarantee any outcome. Read the full Risk Disclosure and Disclaimer.