17 Dec '11, 9am

Market Outlook (17/12/11): Bears Remains Dominate In STI!

Market Outlook (17/12/11): Bears Remains Dominate In STI!

Market Outlook (17/12/11): Bears Remains Dominate In STI! by Dou on December 17, 2011 In last week, STI lost 36 points from the opening of 2695 and close lower at 2659 A black candle sticks with little lower shadow indicates that there are still some buying pressure on the support level. Key Economics Data report: On Friday, U.S agreed to extend a payroll tax cut for two months. The deal still have to be approved by the full Senate and House, fell far short of President Obama’s push for a one-year extension of the tax relief and long-term unemployed benefits to boost the country’s fragile economic recovery. Technical Analysis on STI STI index has re-test the support at 2643 and managed to close above this level. 1) In weekly chart, a black candle sticks with little lower shadow affirms that investors continue to buy on the support of 2643 2) The weekly trading volume falls...

Full article: http://thefinance.sg/2011/12/17/market-outlook-171211-bea...

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