Author: Jay Chia - Your Financial Mentor

Straits Times Index continued to trend in crucial level.

  Straits Times Index continued to trend in crucial level. Straits Times Index faced a volatile week last week as it struggled to find fresh bullish leads to sustain it rebound attempts. The week started with a strong rebound which helped STI to get closer to the 20 week MA resistance line around 3500 level. However, it was unable to find strong bullish reasons to lift the index towards that level. Its upside seems to cap at 3490 level. On last Friday, fresh fears on the European situation pushed the market lower. Friday’s movement caused STI to return most...

Read More

Straits Times Index facing threat of downtrend formation.

Straits Times Index facing threat of downtrend formation. Straits Times Index experienced another week of blood bath as more market participants scrambled to exit the market due to concerns on world economic situations. During the early week, STI refuses to trade lower and was holding well. However, when there were talks of political unrest, many market participants decides to take the cautious approach and exit the market. On Wednesday, STI broke the important 20 week MA support at 3500 level. This break down had lead to strong selling pressure as breaking it symbolises reduction of uptrend formation possibilities. The...

Read More

Straits Times Index to consolidate at 3530 level.

  Straits Times Index to consolidate at 3530 level. Straits Times Index was seen trading firmly last week as it refused to continue its bearishness. The week started with bearishness which tested the support of 3530 level. This support level held firmly for the next 2 days despite attempts to break it. Buyers were supporting the support level of 3530 level by pushing the index back up after testing the support level. However, upside was limited during these few days. It was only during Friday’s movement, the bullish sentiment was able to prevail. Friday’s bullishness had helped STI to...

Read More

Straits Times Index faces strong sideways resistance at 3630 level.

Straits Times Index faces strong sideways resistance at 3630 level. Last week was a bearish week for Straits Times Index as profit pressure dominated the market during the last few days of the week. The week had a strong start but right after Wednesday, the market gapped down strongly on Thursday. This gap down action could be due to multiple index components going on Ex-Dividend. Further Ex-Dividend was seen on the next day which caused STI to close at a lower level. This “false sense” of selling pressure could have led some traders to exit the market without realising...

Read More

Straits Times Index close to key resistance of 3630 level.

Straits Times Index close to key resistance of 3630 level. The Straits Times Index was struggling to find direction last week as profit takers prevented the market to raise higher. During every day, the market opening with bearish action; attempting to push STI to a lower level. However, there will always be willing buyers to hold the market despite strong selling attempts. These bullish buyers tend to dominate the market daily which helped STI to maintain its current level. Therefore, last week turned out to be a flat week. Only 3.83pts was gained. Straits Times Index ended at 3577.21...

Read More

Bullish vibe dominating the Straits Times Index

Bullish vibe dominating the Straits Times Index Bearish sentiment was reversed last week in the Straits Times Index. Fear of US-China trade war seems to have diminished over the week as the market digested the impact and possibilities. STI started the week testing the resistance level at 3450 level. There was still some bearish pressure during the day but the bulls were able to dominate the market during the day. However, it was unable to break through the resistance level on that day. The breakthrough happened on Tuesday. Buyers were seen rushing into the market to snap up oil-related...

Read More

Straits Times Index to continue its consolidation mode.

Straits Times Index to continue its consolidation mode. It was a volatile week for Straits Times Index as growing concerns on possible trade war to happen between US and China. Many have seen that trade war can affect the economic situation of the whole world and hence, reacted bearishly upon retaliation by the China officials. The strongest reaction happened on Wednesday where STI was seen breaking its key support level at 3350 level. However, the reaction was short lived as most of the losses were recovered immediately the next day. This wild swing had puzzled many traders which caused...

Read More

Straits Times Index still consolidating

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...

Read More

Straits Times Index to consolidate this week

Straits Times Index to consolidate this week The Straits Times Index had a bullish week last week but it failed to reach the recent high it had achieved last month. The start of the month was strong as STI managed to gapped up on Monday which brought strong bullish momentum to break its resistance at 3530 level. STI managed to sustain its resistance level till Wednesday. On Thursday, market participants were sceptical of the strength and started selling. This brought STI back below 3530 level. Further selling pressure pushed back to the gap level which it had created on...

Read More

Straits Times Index will likely to rebound.

Straits Times Index will likely to rebound. The Straits Times Index faced a volatile week last week as market participants were fighting to decide a market direction. The week first started with strong selling pressure which broke the support at 3450 level slightly. Instead of sliding lower the next day, STI opened with a gap up on the next day. This brought STI back above 3450 level. Talks of US tariffs continue to affect the market and brought STI back to test 3450 level again. However, this support level held well as buyers rushed to support the level. This...

Read More

Straits Times Index sitting on the fence

  Straits Times Index sitting on the fence Last week, the Straits Times Index faced a streak of bearish actions as market participants were reacting US interest rate hike concern during the early week. Bullishness kicked off the week but it was unsustainable. Sellers dominated the market on Tuesday which prevented STI from reaching out for this year’s high at 3611 level. Powell, US Fed chief, had indicated the possibilities of interest rate. This comment was not well received by the market. To make the matter worse, US announced that they will implement import tariffs in steel and aluminium....

Read More

Straits Times Index starting its bullish streak

Straits Times Index starting its bullish streak The Straits Times Index managed to perform a rally last week as it confirmed its rebound from the support of 3350 level. This bullish action happened after breaking its resistance at 3450 level; which leads to confirmation of the bullish reversal pattern. Looking into the daily market action, it seems that there was strong tussle between the bullish and bear as 2 days of the week ended in red. Despite the tussle, the bullish buyers eventually managed to maintain the price and helped STI to end the week high. A total of...

Read More

Straits Times Index might attempt a rebound

Straits Times Index might attempt a rebound Happy Lunar New Year to everyone and I wish everyone will Huat Huat Huat this year! Last week, Straits Times Index did not show a sea of red as an auspicious symbol to start the Lunar New Year. Market participants are excited by the cheaper valuation in the market and decided to buy into the market. In the shot 4 days week, STI was able to start the week bullishly. However, the bullish start was not easy as it continues to face selling pressure which caps STI’s upside. It is clear to...

Read More

Straits Times Index in the midst of correction

Straits Times Index in the midst of correction Strong selling pressure seeped into the Straits Times Index as the stock markets of the whole world went into selling frenzy. The selling sentiment started in US market first which created a domino effect to other leading markets. Reports of corrections happening became real as profit takers scrambled to exit the market quickly after a long streak of bullish movements since last year. Rebound attempts that happened during the week became opportunities for sellers to exit the market. This bearish spiral caused STI to lose a total of 152.58pts for the...

Read More

Straits Times Index poised for retracement movements

Straits Times Index poised for retracement movements The long awaited bearish sentiment started to appear in the Straits Times Index last week after 5 weeks of rally. STI attempted to trade higher during the early week but failed to sustain the bullishness. Selling pressure was triggered by the bearishness in the US market. There was no strong reason for the market to start buying and hence, sellers dominated the market last week. Due to this, the momentum to help STI to reach 3630 resistance level has stopped and reversed. A total of 37.32pts was lost during the week as...

Read More

Like us on Facebook

Follow us on Twitter