Published:
Daily Markets Briefing: STI up 0.1%
But a pullback is expected today.
According to OCBC, the pull-back on Wall Street overnight is likely to cue the local bourse to a negative start this morning.
Here's more from OCBC:
After a fairly strong run-up since late last week, the STI has shown signs of a slowing upside momentum with just a mild 0.1% climb yesterday.
As such, it will not be surprising to see the index initiating a technical correction today, back in the direction of the 3390 newly established resistance-turned-support.
On the upside, we still see the immediate resistance pegged at the 3460 key peak.
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