HOSE Vietnam Stock Index(VNI) – Up trend likely to continue

The Vietnam market is clearly dominated by the bulls last month. The VNI surged almost 16% in one month to close at 536.53 points. The level is currently the highest in nearly a year. It easily broke the 520 points resistance level and is probably eyeing the 575 points resistance level, which is the highest since mid of March 2008 and the 38.2% Fibonacci retracement level. The market performed better than the rest of the others because it the market value shrank nearly three quarter.

(Read more here - Market Insight)