Straits Times Index trades in an indecisive range.

STI did not confirm its downtrend formation last week and held firmly above 3030 despite negative economic news that was announced. Instead, STI experienced a flat trading week, hovering between 3030 – 3060 levels with multiple attempts to break 3060 level. Most of its gap down opening was being pushed higher by buyers during the day which prevented STI from dropping below 3030 level. Mixed earnings reports are being reported in various counters and it did not create any wild movements within the day. Due to the short week, many traders seem to be trading cautiously and a low volume environment was seen. For the whole week, STI only managed to gain merely 8.59pts, closing at 3057 level. Last Friday, DJI ended flat with only 3.53pts higher. Will STI continue to trade in such a tight range this week or ...