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BUZZ-Singapore's Straits Times Index may test support at 3,170

** Singapore’s Straits Times Index falls as much as 0.83 pct to its lowest since July 9, may test support at 3,170.21 points - technicals show

** Index breaks support at 3,238.15 points, the 23.6 pct Fibonacci projection level of the downtrend from May 2 high to July 6 low (wave A) reut.rs/2KZaDyC

** The 23.6 pct level is now expected to act as a resistance, while the index has its nearest Fibonacci support at 3,170.21 points, the 38.2 pct level

** Trend intensity (TI) indicator rises to 16, suggesting the index is trending downwards; MACD is also negative and below its signal line

** Index’s wave pattern suggests it is in wave C of a three-wave correction; if wave C travels the same distance as wave A, it may lead to a fall up to 2,882.6 points

** Comfortdelgro is the top pct gainer on the index this year with a 19.7 pct gain as of Wednesday, while StarHub Ltd, down 41.75 pct, is the top loser (Reporting by Gaurav Dogra)

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