Straits Times Index to continue its downtrend movement but downside getting limited.
Straits Times Index ended the month of January with a sea of red last week to celebrate the coming of the Horse year. Fears of tapering in US and slowdown in China economy had took a hit in the market triggering the selldown. The start of week continues to be bearish with no rebound in sight, 3065 support level was short-lived as STI starts the day with a gap down action breaking the support quickly. 3030 support was been tested and held well for a rebound on Tuesday. The rebound was strong but it faced gap resistance which it could not break during the day. Selling pressure continued on Wednesday which triggered further selling pressure. During the half day trading day on Thursday, STI traded with a gap down action and ended the day lower; thus concluding the ...
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