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Straits Times Index at important turning point.
By Jay Chia - Your Financial Mentor  •  November 11, 2013
Straits Times Index at important turning point.

Straits Times Index at important turning point.

It was a dull week for Straits Times Index last week but sudden selling pressure ended the market last Friday after concerns of tapering of US economy started to stir up again. STI was seen staying at 3200 level for the first four days of the week and was unable to show any strong positive sign despite multiple attempts to rebound. Support at 3200 level was holding very strong while market participants were staying sidelines to wait for a more decisive catalyst to spur STI for stronger movement. The catalyst came on Friday which caused STI to break its strong support at 3200 level which shed the most points during the week. Hence for the week, STI ended at 3177 level with 23.95pts down for the week. Will STI continue to slide further this week or will STI to attempt a rebound?

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By Jay Chia - Your Financial Mentor
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