|Day's range||3,179.37 - 3,200.73|
|52-week range||3,040.16 - 3,415.18|
SINGAPORE (Jan 3): On Jan 2, the Straits Times Index (STI) broke out of a narrow sideways range it had been entrenched within since early November. The breakout was accompanied by a slight expansion in volume and firming quarterly momentum.
Support is near current levels, at the 3,177 to 3,195 range, at the confluence of the 100- and 200-day moving averages. Long-term moving averages, in particular the 200-day moving average, represent support and resistance levels. In a trending market the Straits Times Index usually finds the 50-day moving average a good support and resistance line.