Straits Times Index sitting on the fence.

It was a less bullish week for Straits Times Index last week as the market is coming to a stage of buying fatigue. STI was able to start the week bullishly by maintaining itself above the psychological level of 3000 before attempting to trade higher. It faces resistance at 3030 level but it was able to break this resistance level on Wednesday. However, breaking out 3030 resistance level did not lead to strong bullish participation. Instead, it met with some resistance on that day. US Fed reserve new chief’s, Yellen, speech gave confidence to the market which helped STI boost it strength on last Thursday. However, the resistance seems to be tough on Friday and STI close slightly lower on Friday.  Hence, for the week, STI closed with 25.57pts up, ending at 3038.71 level. Is the weakness in upside an indication ...