New property cooling measures will impact Straits Times' bullishness
The 2nd week of the year for STI did not show strong movements as the bullishness starts to subside. The week started with a strong opening but sellers were getting ready to sell at 3237 level which forces the day to close slightly lower. The next day continued to fill with sellers which forces STI to test its support at 2000 level before it started to rebound. The rebound got capped at around 3235 level as traders were cautious on the upside. On Friday, STI ended slightly lower as the cautious mood continues. It was a flat week which can be seen as a consolidation movement after a period of upside movement. Another possible reason could be due to the lack of catalyst to spark off reasons for traders to buy. Last Friday evening, Singapore Government announced revision to its ...
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