Straits Times Index broke key resistance level.

Straits Times Index enjoyed a strong start for the month of October as buyer confidence started to build up strongly. Many have seen positive signs in Singapore economic situation, leading to gain in confidence in the market.  More confidence were driven by strong market numbers from US side as the US market hit new historical highs. Reports of un-sustainability of the US rally were shrugged off aside as fresh numbers were supporting the strength of US economy. Thus, these factors drive STI towards breaking its resistance level at 3270 level. Breaking the 2 month old sideways movement will likely to draw traders into the market currently as it signals the end of the downward retracement in the market. With this, STI is seen closing the week at 3291.29 level with 71.38pts up for the week. Strongest weekly gain made for …