Straits Times Index still consolidating

It was a short week for the Straits Times Index as the Christian celebrated the Good Friday. Bearish sentiment was also cut short as the market continued to face uncertainty over the trade war issues. Volatility was seen during the week as market participants were flicking to and fro from bullish to bearish sentiment. The opening for the week is weak but it was being reversed the next day. A low of 3382 level was being formed during the week but rebound was quick. Flickering between 3382 – 3443 levels pretty much sums up the movements for the short week. A gain of 6.58pts was clocked during the week to close STI at 3427.97 level.

Has the bearishness ended after last week’s movements? Will bullish sentiment start to dominate the market for this week?

Let’s analyse STI’s chart for further details.

Trend: Possible …