
Daily Markets Briefing: STI up 0.1%
Expect more good news today.
According to OCBC, the further optimism on Wall Street overnight is likely to keep local sentiments buoyant this morning.
Here's more from OCBC:
Following its 0.1% gain yesterday, the STI looks set to maintain its run and head towards the 3340 immediate resistance next.
Technically, the daily MACD has just initiated a bullish crossover as well; this suggests an improving upside momentum.
Above the 3340 level, we see the next hurdle at the 3380 key peak. On the downside, the immediate support is still tagged at the 3280 recent trough, followed by the next base at the 3230 key trough.