Weekly Wrap

First week of the year 2017, local index STI was one of the best performer with 2.8% weekly gain, the rest indexes also posted positive return with at least 1% up.

STI is trading at its multi-months major resistance level from 2960-2980 area. Plenty of room to upside if it can break above this level. Its chart looks very promising for bulls.

The US markets hit new high this week( all three major indexes), DJI registered high of 19999.631, just an inch below 20,000 level.

HSI and SSE both rebounded hit their 3-week high respectively. Both charts look poised for further rebound.