STI to be trading in a tight range.

STI closed flat last week as conflicting news were being announced which created indecisiveness in the market while preparing for a long weekend. STI started the week with a bullish start as STI refused to retrace towards 3030 level. This bullishness brought STI to test 3080 level on Tuesday and closed with extremely high volume. Many thought that STI has successfully broken out of this major resistance level. However, weak reports from the media agitated the bearishness in the market again causing the next day to open with a strong gap down. STI was yet again below 3080 resistance level and failed to stay above it for the rest of the week. Eventually, STI closed for the week with merely 7.91pts higher at 3062 level. Last night, DJI closed flat with 3.56pts down. Will STI be able to gain bullish ...