Straits Times Index bullish streak will likely to continue

It had been a pretty exciting week for Straits Times Index as it was filled with both bullish and bearish swings. The week started off with attempts to break the resistance level which turned out to be unfruitful. Profit takers were seen in the market which caused strong selling pressure on Tuesday and Wednesday’s sessions. On Wednesday, STI hit a low of 3277 level which it refused to go lower. Bargain hunters were seen lurking around this level to buy in. This sustained the market and caused a strong rebound to happen on Thursday. Coupled with good earnings being reported, STI managed to propel itself back to its resistance level which it failed to break that day. It is only during Friday’s session; STI is then able to break this resistance level. The breakout action was not a very decisive one ...