Europe’s ECB bond buyingbrought confidence back to the market.

Straits Times Index had a bullish week last week as it manages to kick off its bullish momentum and continue its uptrend movement. The week kicks off by testing its support at 3300 level which it proves to hold very well. This support level is a strong support level where STI managed to form its higher low formation. Market participants started to rush into the market as falling oil prices deemed to be a positive factor economic growth. Although the offshores and the commodities do not stand to benefit from this, they managed to stage a rebound during the week too. Hence, consecutive bullish days were seen last week. Coupled with Europe’s ECB bond buying back program, STI had managed to achieve a new high for the past 52 weeks. With this bullish movement, STI was seen gaining 110.82pts last …