Volume has increased significantly on Thursday and Friday
STI continues its roller-coaster ride in the past week as it rose steadily toward 2570 before retreating back to 2533 on Friday closing. This volatility is partly due to increased uncertainty as businesses continue to see less support from the government yet there is no light at the end of this tunnel for the pandemic. On the US front, we notice that the pre-election polls are tilt towards a Biden win at the moment, resulting in increased volatility for the global stock markets. As we continue to head toward 3rd November, STI will continue to experience higher volatility and erratic price movements.
STI – Updated Daily Chart
STI closed around 2533 again for the second week
The daily chart shows no progress for STI as we continue to stay close to 2533 support. That said, STI did race towards 2570 on Tuesday with 2 solid candles before retreating back to 2520. However,