Jay’s Mentoring Group!

Latest Posting

Straits Times Index faces strong sideways resistance at 3630 level.

Last week was a bearish week for Straits Times Index as profit pressure dominated the market during the last few days of the week. The week had a strong start but right after Wednesday, the market gapped down strongly on Thursday. This gap down action could be due to multiple index components going on Ex-Dividend.

Straits Times Index close to key resistance of 3630 level.

The Straits Times Index was struggling to find direction last week as profit takers prevented the market to raise higher. During every day, the market opening with bearish action; attempting to push STI to a lower level. However, there will always be willing buyers to hold the market despite strong selling attempts.

Bullish vibe dominating the Straits Times Index

Bearish sentiment was reversed last week in the Straits Times Index. Fear of US-China trade war seems to have diminished over the week as the market digested the impact and possibilities. STI started the week testing the resistance level at 3450 level. There was still some bearish pressure during the day but the bulls were able to dominate the market during the day.

Straits Times Index to continue its consolidation mode.

It was a volatile week for Straits Times Index as growing concerns on possible trade war to happen between US and China. Many have seen that trade war can affect the economic situation of the whole world and hence, reacted bearishly upon retaliation by the China officials. The strongest reaction happened on Wednesday where STI was seen breaking its key support level at 3350 level.