Market Review and Trends
Gold and Oil’s drop affected Straits Times Index’s sentiment
By Jay Chia - Your Financial Mentor  •  April 22, 2013
Gold and Oil's drop affected Straits Times Index's sentiment
Gold and Oil's drop affected Straits Times Index's sentiment STI had a flat trading week last week as market participants experienced concerns in the sudden drop in Gold and Oil price. Gold plunged close to $200 in mere few days and this lead to speculations that fund managers might start to pull out from the equity market also. However, despite such concerns, STI still managed to hold itself very well last week. The start of the week was a bearish one as STI losses close to 10pts and tested 3280 support level. Further bearishness was seen on Tuesday where STI opened with a gap down which broke 3280 support level. Bargain hunters managed to support the market and pushed STI back above 3280 level which eventually helped STI to close with a positive note. However, STI did not experience the same kind of bullishness for the next few days. STI ......
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By Jay Chia - Your Financial Mentor
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