Cyprus bailout brought confidence back to Straits Times Index

Last week was the end of the 1^st quarter of the year and it turns out to be a short week due to Good Friday holiday. Despite the short week and long weekend, STI manages to trade bullishly for the week and ends close to high of the past month. The bailout of Cyprus banks turned out find despite panics from the public when the bank reopens.  The week started with STI facing resistance at 3280 level which it had trouble breaking it. However, with bullish support from the US market and bailout of Cyprus banks, STI gained strength on Tuesday and propelled towards the major resistance of 3315 level. The major resistance of 3315 level was being tested on Thursday but market participants were not convinced of this resistance level should be broken. Hence, many made used of ...