Confusing situation happens in Straits Times Index again.

It was a week of rebound for Straits Times Index last week as market participants started to gain confidence with the market. During the week, penny stocks were back to limelight as interest on blue chip counters were diminishing. The week started bearishly as STI failed to hold its support at 3160 on the previous week. Its support at 3120 level as being tested and it held well for the first 2 days of the week. Strong rebound action happened on last Wednesday, pushing STI back towards its resistance at 3160 level.  Resistance was felt at 3150 level for the next few days as it faces both 50 & 100ma resistance line. US economic data concerns were hindering the bullish sentiment during that period. Hence, STI closed the week at 3143.87 level with 12.40pts up for the week. On ...