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Straits Times Index continues its sideways movement with indecisiveness
By Jay Chia - Your Financial Mentor  •  March 18, 2013
Straits Times Index continues its sideways movement with indecisiveness

Straits Times Index continues its sideways movement with indecisiveness

The Straits Times Index experienced a flat week last week as market participants were unsure on whether the previous weeks bullish could be sustainable. STI attempted to retrace on the first day of the week but the support at 3280 level held well. This support helped to lift STI back up to face its major resistance level at 3315 level the next day. However, the major resistance level is very firm and attracted sellers to push STI down. For the next 3 days of the week, sellers were seen capping every upside movement that STI attempted. Despite the selling pressure, STI was able to continue holding its support at 3280 level firmly. Eventually, STI ended at 3286 level with 3.48pts lower for the week. Last Friday night, DJI have at last closed with a negative after its bullishness for days....

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By Jay Chia - Your Financial Mentor
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