Published:
Daily Markets Briefing: STI up 0.1%
Gains likely to be limited.
According to OCBC, the modest recovery by the US indices overnight is likely to keep local sentiment fairly buoyant this morning.
Here's more from OCBC:
Despite so, gains could be limited as the STI seems to have shifted into a consolidation phase following yesterday’s muted 0.1% higher close.
For now, the 3270 immediate resistance remains a tough obstacle to overcome, with the next hurdle lying at the 3300 psychological obstacle.
On the downside, 3230 is still the immediate resistance-turned-support, with the next base pegged at the 3190 key trough.
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