Singapore Market Analysis: STI remains below key averages as DBS and USD/SGD show firmer structure
The Straits Times Index (STI) closed at 5653.96, below its 20-day and 50-day averages, keeping its short-term structure cautious. USD/SGD remains above both averages, while DBS Group is also holding above its 20-day and 50-day averages. The main scheduled risk over the next 48 hours is the high-impact FOMC Meeting Minutes at 22:00 UAE time on 7 October.
What to watch today
- STI: 5639.55 support and 5681.56 resistance
- USD/SGD: 1.2778 support and 1.2817 resistance
- DBS Group: 77.34 support and 78.19 resistance
- FOMC Meeting Minutes: Wed 07 Oct, 22:00 UAE
- STI moving averages: SMA20 at 5683.40 and SMA50 at 5694.94
Technical analysis
Straits Times Index (STI)
Bearish 5,666.56 +0.04% liveThe Straits Times Index (STI) is below its SMA20 at 5683.40 and SMA50 at 5694.94, with the recent range leaning toward its 20-day low at 5621.76.
Daily candles, last 90 sessions. Green dashed = support, red dashed = resistance.
The Straits Times Index (STI) closed at 5653.96, just below the daily pivot at 5656.79. It is also below the SMA20 at 5683.40 and the SMA50 at 5694.94, while the 20-day range runs from 5621.76 to 5763.39. This keeps the near-term technical bias cautious.
RSI, a momentum measure ranging from 0 to 100, is at 45.67, showing neither oversold nor strong positive momentum. A move above the pivot could bring the first resistance at 5681.56 into focus, followed by 5698.80. On the downside, the pivot S1 at 5639.55 and S2 at 5614.78 are the key levels to monitor.
USD/SGD
Bullish 1.2797 +0.02% liveUSD/SGD is above its SMA20 at 1.2749 and SMA50 at 1.2757, while trading close to the upper part of its 20-day range.
Daily candles, last 90 sessions. Green dashed = support, red dashed = resistance.
USD/SGD closed at 1.2793, below the daily pivot at 1.2801 but above its SMA20 at 1.2749 and SMA50 at 1.2757. The 20-day range is 1.2627 to 1.2824, leaving the pair near its recent upper boundary.
RSI is at 57.70, indicating moderately positive momentum without an extreme reading. Holding above pivot S1 at 1.2778 would keep the nearby structure supported, while pivot R1 at 1.2817 and R2 at 1.2840 mark resistance areas. The 20-day high at 1.2824 is another important reference near the first resistance.
DBS Group (D05.SI)
Bullish 78.18 +0.45% liveDBS Group is above its SMA20 at 77.45 and SMA50 at 76.62, although its recent 20-day performance remains slightly negative and price is below the 20-day high.
Daily candles, last 90 sessions. Green dashed = support, red dashed = resistance.
DBS Group closed at 77.90, above the daily pivot at 77.69, the SMA20 at 77.45 and the SMA50 at 76.62. The stock remains within a 20-day range of 76.31 to 78.50, while the 60-day high is 79.05.
RSI is at 56.75, reflecting moderately positive momentum. The first support references are pivot S1 at 77.34 and S2 at 76.84. On the upside, pivot R1 at 78.19 and R2 at 78.54 are the immediate resistance levels, with the 20-day high at 78.50 close to the second pivot resistance.
Market events (next 48 hours)
| Time (UAE) | Currency | Event | Impact | Forecast | Previous |
|---|---|---|---|---|---|
| Wed 07 Oct, 22:00 UAE | USD | FOMC Meeting Minutes | High | - | - |
The main scheduled event is the FOMC Meeting Minutes on Wednesday, 7 October at 22:00 UAE time. It is marked as a high-impact USD event.
The release may increase volatility in USD/SGD and can also affect sentiment around the Straits Times Index (STI) and DBS Group. Levels may be tested quickly around the release, so confirmation after the initial reaction is important.
Algo insight: how a rules-based system treats today
A rules-based approach would treat the Straits Times Index (STI) differently from USD/SGD and DBS Group because the index is below its SMA20 and SMA50, while the other two instruments remain above those averages. Signals can therefore be filtered by the broader trend rather than treated uniformly.
ATR, or Average True Range, measures typical price movement. Current ATR readings are 46.54 for the Straits Times Index (STI), 0.0038 for USD/SGD and 0.83 for DBS Group. An algorithm may use these readings to set volatility-aware stop distances and reduce position size when expected movement is larger.
Because the FOMC Meeting Minutes are scheduled for 22:00 UAE time, a rules-based system may avoid opening new exposure shortly before the release, reduce risk through the event window and wait for spreads and price movement to stabilise. Session timing and confirmation around the listed pivot levels would remain important.
