World Cup effect in place, affecting Straits Times Index trading volume.

World Cup effect in place, affecting Straits Times Index trading volume.
World Cup effect in place, affecting Straits Times Index trading volume.

World Cup effect in place, affecting Straits Times Index trading volume.

Last week, Straits Times Index decided to choose the route of retracement as the season of World Cup started. On Monday, STI managed to start the week bullishly and faced resistance at 3310 level. The resistance was strong and hence, STI started to retrace the next day. Its gains were quickly lost on that day and went down further on Wednesday. 3280 support level was then tested and it is holding firmly. For the rest of the week, STI did attempt to slide lower but the support is holding strong. Every slide comes with an intraday rebound to prevent STI from going lower. Hence, STI ended the week at 3293.25 level with 6.18pts down for the week. Will the support fail to hold this week due to the World Cup effect or will it be a setup …

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World Cup effect in place, affecting Straits Times Index trading volume.

World Cup effect in place, affecting Straits Times Index trading volume.
World Cup effect in place, affecting Straits Times Index trading volume.

World Cup effect in place, affecting Straits Times Index trading volume.

Last week, Straits Times Index decided to choose the route of retracement as the season of World Cup started. On Monday, STI managed to start the week bullishly and faced resistance at 3310 level. The resistance was strong and hence, STI started to retrace the next day. Its gains were quickly lost on that day and went down further on Wednesday. 3280 support level was then tested and it is holding firmly. For the rest of the week, STI did attempt to slide lower but the support is holding strong. Every slide comes with an intraday rebound to prevent STI from going lower. Hence, STI ended the week at 3293.25 level with 6.18pts down for the week. Will the support fail to hold this week due to the World Cup effect or will it be a setup …

Read the Full Article

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