Downtrend momentum to set in Straits Times Index this week.

It has been a decisive week for Straits Times Index as bloodshed was seen across the board as growing concerns on China economy situation elevated. During the early week, STI continued to be plagued by indecisiveness as many are waiting for things to happen. A tight trading range between 3130 – 3140 levels was seen for the first 3 days of the week before a clear decisive market action was seen. On Thursday, weak economic numbers were seen in China which sparks fears that it will impact the market. Hence, STI broke the key support at 3120 level easily on that day. It next immediate support level at 3100 level also failed to support the market on Friday. This downward slide led STI to close the week at 3075.99 level; concluding the week with 71.34pts down. Will STI ...