Straits times index in consolidation mode for bigger movements

Last week, after the announcement of QE3 package by Fed government in US, STI was seen attempting to break 3080 resistance for multiple days but was unable to break its. Retracement was also seen for a couple of days but they failed to be a deep one. Trading interest seems to have lightened over the week as strength from the QE3 news started to die off. Many traders were hesitating on whether to take profit off the market as buyers were seen flocking in whenever there is a retracement in the market. The tussle between the bulls and the bears created an indecisive week for STI and STI closed at 3078 level with 7.81pts for the week. Last Friday, DJI closed slightly down with 17.46 pts lower. Will STI be able to break out of 3080 resistance level this ...