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Profit Taking Vs Cutting Loss

 

Profit Taking Vs Cutting Loss

Straits Times Index to remain bullish till resistance level.

New high was form for the year as Straits Times Index continues its bullish run last week. The week started flat on Monday as market participants were consolidating for more reasons to buy in the market. On Tuesday, the market rushed higher as earnings reports from various companies brought confidence back into the market. This helped STI to reach as high as 3429.11pts during the week.

Straits Times Index nearing the key resistance level of 3355

Straits Times Index continued its bullish streak for the 3rd consecutive weeks as market confidence starts to build up. Buoyant by improving economic situation around the world, STI was able to trade closely to this year’s high of 3354 level. This level has yet to be tested but it is likely to be tested soon.

Straits Times Index bullish momentum is to continue.

It is another bullish week for Straits Times Index as the market is buoyant by strong economic figures. The start of the week was plague by profit taking pressures as market participants were cautious ahead of announcement of Singapore’s GDP figures on Friday. Selling pressure was seen for the first 3 days of the week as the index was pushed to as low as 3272 level.