Straits Times Index is ready to set a new high in the month of June.

Straits Times Index is ready to set a new high in the month of June.

Month of May had ended and the expectations of “Sell in May and Go away” phenomenon was debuffed. Straits Times Index had managed to attain a new high for this year at the last day of the month. This bullish closing for the month did not come easily. For the whole of the month of May, STI was plagued with indecisiveness as many traders were fearful of the bearish phenomenon and decided to avoid the market. However, STI sustained strongly at 3230 level during the month after 2 weeks of consolidation. The breakthrough only happened last week where STI was seen having multiple attempts to trade higher. 3280 resistance level held strongly at first and retracement actions followed thereafter. But during last Friday, market participants rushed into the market as it cheered for the end …