28 Jan '13, 10am

Straits Times Index confirms its uptrend continuation.

Straits Times Index confirms its uptrend continuation.

Last week, the traders seem to have forgotten about the property cooling measures that were being implemented on the previous week. Straits Times Index propelled to one year high based on optimism from the US market and the China market. The week started off with a flat opening but buying actions started to enter the market soon after that. Gradual buying momentum started to build up the next few days lead STI towards its resistance at 3230 level. This resistance level managed to break on Thursday as investor’s confidence strengthened by the positive outlook of the economy. Flood gates of buyers were opened on that day and it helped STI to reach out for another resistance at 3260 level. On Friday, STI managed to trade slightly higher than the resistance of 3260 by closing at 3269 level. For the week, STI gained 58….

Full article: http://thefinance.sg/2013/01/28/straits-times-index-confi...

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