Support found but range trade momentum continues in Straits Times Index.

Last week, STI managed to retrace gradually and tested its support level at 3280. This support level held well and attempts of rebounding action as seen. On Monday, STI was first seen retracing further to test 3280 level. It was just merely a few points away from the support level before it started to rebound away from the level again on the next day. However, Tuesday’s rebound did not sustain and the gains were lost on Wednesday. Wednesday’s bearish action had lead STI to test 3280 level and bargain hunters were spotted at this support level; pushing STI back above 3280 level again. Rebound was attempted on the next day again but it faces resistance from 3315 level. Which led to Friday’s bearish movement as sellers dominated the market on that day. Eventually, STI still managed to stay above ...