Straits Times Index might be reversing its trend to uptrend this week.

It was a strong week for Straits Times Index last week as market participants were buoyant by improved China’s economic data and the easing of Syria war. These factors helped to increase the confidence in buying into the market despite the concerns of easing of US Fed’s intention of easing their monetary plan. STI started the week strongly by gapping up strongly without weakness to retrace. The bullish momentum continued on Tuesday which helped STI to reach towards 3130 resistance level. This resistance level was being tested on Wednesday but the market failed to break it. For the rest of the week, STI was capped by this resistance level but there were no signs of retracement despite that. Hence, STI managed to end its week at 3120 level with a whooping 71.95pts worth of gains. Can STI ...