Straits Times Index attempting to close the gap resistance of 3139 - 3172 levels

Last week, STI continued its bullish streak and ignored the overbought condition by surging higher without a significant retracement. The week started off with a struggle as it felt resistance from both the 3110 & 3140 resistance level. However, STI was able to sustain its bullishness by trading above 3110 resistance level. On the mid week, STI continued its attempt to break 3140 resistance level and was unable to do so. On Thursday, STI broke this resistance level easily as the US Feb government introduced new stimulus measures which fuelled the bullish momentum. The last day of the week comes with a continuation of bullishness as PMI data of China showed positiveness in it economic recovery. The whole week was decisively bullish for STI. Last Friday night, DJI failed to sustain its bullishness and fell 35....