Published:
Daily Markets Briefing: STI up 0.1%
Will today's tone remain weak?
OCBC Investment Research said:
The muted reaction on Wall Street overnight is unlikely to offer any inspiration to the local bourse this morning.
After a similarly dull session yesterday with a mild 0.1% gain, the STI continues to hover just above the key 3200 psychological level.
And with today's tone likely to remain weak; we could see the index consolidate further around current levels with the immediate obstacle pegged at the 3230 minor peaks.
Above that, the next hurdle lies at the 3260 key peaks. Below 3200, the next support is pegged at the 3155 minor trough.
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