Straits Times Index in consolidation mode.

It was a week of gradual gain for Straits Times Index last week as market participants were unsure of the market’s direction after the US shutdown being resolved.  There were no new catalyst to spur the market higher last week but at least, STI managed to break out of 3200 level on last Tuesday. There were attempts to surge higher on last Wednesday but it faces resistance at 3230 level which caused STI to return towards 3200 level. Various attempts to test 3230 level were seen for the rest of the week but STI can’t find strength to reach 3230 level again. Hence, STI was seen trading a tight range between 3200 – 3230 level last week. For the whole week, STI only managed to gain 12.34pts and close at 3205 level. Will STI be trading in this tight range this week?  ...