Published:
Daily Markets Briefing: STI up 0.1%
Muted Wall Street overnight not likely to provide much of a cue for the local bourse today.
OCBC Overnight Market Commentary says that while the STI, up 0.1% yesterday, still looks somewhat positive in the near-term, the inability to overcome the key resistance at 3251 (30-DMA, mid of Bollinger band) remains worrying.
Furthermore, the index needs to stay above 3221 (38.2% retracement of 2953-3387 rally), otherwise OCBC thinks there could be a slide back towards 3155.
As such, selling into strength could still be the key theme in the coming days.
Read Here
Advertise
Sign Up
