Straits Times Index to remain bullish till resistance level.

New high was form for the year as Straits Times Index continues its bullish run last week. The week started flat on Monday as market participants were consolidating for more reasons to buy in the market. On Tuesday, the market rushed higher as earnings reports from various companies brought confidence back into the market. This helped STI to reach as high as 3429.11pts during the week. These positive actions are clear indication that the market is still in a strong bullish trend. However, resistance level at 3450 level is yet to be tested as slightly profit taking action as seen on Friday. STI ended the week at 3420.10 level with 37.79pts up for the week.

Will profit taking sentiment start to seep in before STI reaches its resistance at 3450 level? How so we prepare ourselves during this …