STI managed to maintain its support level yesterday as the market was positive of the impact of the Budget that was being announced. It first opened slightly higher but it soon faced selling pressure which pushed STI to as low as 3415 level. This was due to the weak opening of HK market. However, market participants were still positive of the market’s strength and decided to enter the market. An intraday rebound was seen and this helped STI to rebound further during the afternoon session. Bullish strength continued to seep into the market which helped STI to close at the high of the day. STI ended at 3437.61 level with 16.31pts up. Last night, DJI rebounded by 92.35pts. Will STI be able to continue to trade higher today?
Holding 3420 support level yesterday is a significant move for STI. This …Read the full article →