Straits Times Index's bullish sentiment will likely to be sustainable
STI experience another week of bullish streak as positive sentiments in the market continue to build up during the week. Buyers were weary during the start of the week as STI did not managed to break the psychological resistance level of 3400 on the previous week. There was no catalyst to encourage the breakout of the psychological level and the market lay flat for the first 2 days. However, on Wednesday, there was a flood of fresh funds into the market to push it above 3400 psychological level. Market participants then started to chase the strength and continue to push the prices up to break the resistance level of 3430 level on Thursday. The traded volume was gaining during the week and this shows the market confidence. For the week, STI managed to gain a whooping 73.87pts and closes ...
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