Published:
Daily Markets Briefing: STI up 0.3%
Expect muted trading today.
According to OCBC, the muted reactions on Wall Street overnight are unlikely to have much effect on the local bourse this morning.
Here's more from OCBC:
Meanwhile, the STI is also locked in a consolidation phase at the moment; the index continues to converge between its 1-month downtrend resistance and 5-month uptrend support.
Should the downtrend resistance be conquered, the index is likely to climb higher towards the 3490 immediate resistance next.
Should the key uptrend support at 3430 be breached, we might see a quick descent towards the 3390 subsequent support.
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