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Property curbs caused further bearishness in Straits Times Index

Straits Times Index continued another round of bloodshed drop as the market not only reacted to the concerns of the US-China tariffs situation, also the announcement of property stamp duty measures introduced by the Singapore government. During the week, it started off with a strong attempt to rebound above 3270 level.

Straits Times Index facing downtrend pressure

Straits Times Index entered another week of bearishness as concerns of US trade tariffs can have economic impact on the world trade. Traders in the market were quick to exit the market on Monday by creating a gap down action which breaks the key support level of 3355 level. Breaking 3355 level indicates a downtrend formation for STI.

Straits Times Index continued to trend in crucial level.

Straits Times Index faced a volatile week last week as it struggled to find fresh bullish leads to sustain it rebound attempts. The week started with a strong rebound which helped STI to get closer to the 20 week MA resistance line around 3500 level. However, it was unable to find strong bullish reasons to lift the index towards that level. Its upside seems to cap at 3490 level.