Published:
Daily Markets Briefing: STI up 0.3%
Expect a pullback today.
According to OCBC, the muted reactions on Wall Street last Friday night are unlikely to provide much impetus to the local bourse this morning.
Here's more from OCBC:
Although the STI registered a 0.3% bounce in the last session, it was still unable to overcome its 1-month downtrend resistance.
With the lack of any strong catalysts, we could see the index continue to consolidate further between the 3430 and 3470 trading band today.
Above 3470, the next hurdle lies at the 3500 psychological level; and on the downside, 3390 is the subsequent resistance-turned-support.
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