Straits Times Index to continue its rebound this week but upside getting limited.

Straits Times Index experienced a week of rebound as bargain hunters were snapping the bearish streak after expectations of good economic data in US last Friday. The week first started with continuation of bearish movement which made STI hit as low as 2953 level on Tuesday. This is the point where bargain hunters were entering the market, trying to hold the market off from dropping lower. Repeated efforts were seen on Wednesday and these aid STI to set a foundation for a rebound. The reversal came on Thursday where STI was able to go beyond the resistance level. On Friday, STI was able to stay above 3000 level and close at 3013.14 level. For the whole week, despite the rebound, STI was still down by 14.08pts. Last Friday night, DJI propelled upwards with 165.55pts ...