Crucial week for Straits Times Index to determine its upcoming direction for weeks.
Last week, STI managed to achieve a good rebound as the market starts to digest the impact of the US shutdown and the trading curb on designated shares. The initial start of the week was a cautious one as market participants were staying sidelines awaiting for more details of the US shutdown. For the next 2 days, bargain hunters were seen entering the market to support the market which supported STI at 3130 level. This is when a rebound was staged. On Thursday, STI opened with a gap up and sustained the breakout of a resistance at 3155 level which further assures that the rebound is sustainable. Hence, this lead to further bullish movement of STI to rebound to as high as 3197 level before closing at 3179 level. For the week, STI made 41.63pts of ...
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