Daily Markets Briefing: STI up 0.1%

And today could only get better.

According to OCBC, the significant rebound on Wall Street last Friday night is likely to provide some inspiration for the local bourse this morning.

Here's more from OCBC:

Despite opening some 0.4% lower in the last session, the STI eventually recovered to a 0.1% gain by the close; this suggests that investors are still fairly optimistic about the market.

And with today’s tone likely to turn more upside biased, we could see the index inching higher towards the 3360-3370 gap resistance.

Beyond that, we see the next obstacle at the 3400 key psychological hurdle. On the downside, 3290 (5-month uptrend support) is now the immediate support, followed by the next base at the 3270 minor trough.