SINGAPORE (July 13): The Straits Times Index rose to a high of 3,372 on July 4 before consolidating. It appears that the Apr 29 high of 3,407, which was also the high for the year is acting as a resistance level. Important highs and lows usually represent a form of resistance or support. Volume eased as prices tested the 3,366 to 3,372 range, suggesting that a break above 3,407 in the near term is likely to be difficult.

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