Straits Times Index attempts to reverse its trend.

STI continued its rebound after more affirmation that the “Fiscal Cliff” is unlikely to implode after various meeting by US congress. STI was able to start the week above the key resistance level of 3000 and maintained above it. It faces resistance from 3020 level on Tuesday but it was quickly broken on Thursday. Key resistance level of 3060 level was nearly tested on Thursday but a strong gap up on Friday caused STI to be able to break this key resistance at 3060 level. It was indeed a very bullish week for STI as multiple resistance levels were broken without much resistance. STI gained 80.67pts for the week and ended at 3069 level. Trading volume was also seen increasing during the week. Last Friday, DJI closed flat with 3.76pts higher. Can STI’s bullish rally continue this week or will ...