End of World Cup will likely to bring more bullish momentum to STI.

End of World Cup will likely to bring more bullish momentum to STI.

With World Cup coming to a close last week, many market participants are still engrossed in the results of the World Cup Finals. But some took the opportunity to anticipate the direction of the market in order to take advantage. Straits Times Index enjoyed a bullish start last week by breaking its resistance at 3280 level. However, the bullish breakout did not last long as STI retraced quickly after that. It stayed below 3280 for 2 days and even hit a low of 3264 level. It held firmly at its MA support level and decided to stage a strong rebound last Friday. Thus, for the week, STI closed at 3292.73 level with a total of 21.48pts gained for the week. With the World Cup ending this morning, will STI be able to gain traction as …