Straits Times Index confirms its uptrend despite Ukraine concerns.

It was an exciting week for Straits Times Index after the tensions in Ukraine impacted on the market. As Ukraine and Russia incident happened over the weekend, STI suffered a strong one day drop which hit as low as 3067 level. However, the tension was just a one day event as Russia decided not to deploy the troops. Confidence returned to the market which led to the following 4 days of gains. There were selling pressure during the 4 days but bullishness prevails during these 4 days. The key resistance level at 3120 was broken clearly on Thursday which resulted in confirmation of uptrend formation in STI. Hence, for the week, STI was seen rebounding firmly from its low and broke its recent low. 25.48pts was gained during the week as it closed at 3136.26 level. Can this bullish ...