Market Review and Trends
Straits Times Index is ready for a rebound in an oversold market.
By Jay Chia - Your Financial Mentor  •  October 20, 2014
Straits Times Index is ready for a rebound in an oversold market.

Straits Times Index is ready for a rebound in an oversold market.

Straits Times Index encountered another bearish week as there are now more reasons to sell than previously. Apart on the concerns of US and European economic situations to HK street protest, a fresh concern had emerged from the market. New Ebola cases were detected out of the African states drew new concerns of further outbreaks. Airport’s tougher screening stance might impact on the tourism economy in various countries. Therefore, STI reacted to it last week. The week started off bearishly by breaking its strong support at 3220 level. It felt some support at 3200 level but it failed to hold above it. On Thursday, further breakdown happened. This caused a weak opening on Friday which hit as low as 3149.91 level before rebound starts to occur. On Friday, STI closed at 3167.73 level ; clocking 56....

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By Jay Chia - Your Financial Mentor
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