The month of January had ended bullishly. The anticipated Capricorn effect only managed to take into effect during the 3rd week of the month. It could have made more gains but Straits Time Index failed to continue its bullish streak last week. It attempted to trade higher during the week but it faces a resistance of 3420 level. This resistance level was being tested for 4 times during the week but it held strongly. Strong retracement then happened last Friday as STI closed 27.85pts down during that day. Gains for the week were being wiped out in that very day. Therefore, Straits Times Index closed the week 20.3pts down; ending at 3391.2 level. Many were concerned of whether STI will be performing further retracement this week.
Let’s see how STI will perform for this week and ...
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