Straits Times Index's rebound might come to an end.

Straits Times Index’s rebound might come to an end.

It had been a bullish week for Straits Times Index despite a short week due to Deepavali holiday on Wednesday. The week started with a strong rebound as rising concerns seems to ease off over the weekend. 3180 resistance level was being tested and it was unable break that resistance level on that day. Breaking of this resistance level only managed to happen on the next day. The bullish strength pushed STI higher to test its next resistance at 3200 level and it eventually broke slightly before the market closes for holiday. After the holidays, STI rebounded further by opening with a strong gap up; breaking 3200 and even 3220 resistance levels. However, on Friday, STI failed to break its next resistance at 3240 level and started to retrace. With such a bullish week, STI had managed to make a total …