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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.

Straits Times Index broke key resistance level.

Straits Times Index enjoyed a strong start for the month of October as buyer confidence started to build up strongly. Many have seen positive signs in Singapore economic situation, leading to gain in confidence in the market.  More confidence were driven by strong market numbers from US side as the US market hit new historical highs.

Straits Times Index continues to consolidate.

Straits Times Index ended the month of September without much trading actions are many traders and investors seems to be staying sidelines. US interest rate and tax reforms news seems to be affecting the market. This news triggered tightly ranged swing movements in the market last week. The start of the week shows bullish attempts but it was quick to be beaten down by the bears on Tuesday.