
Daily Markets Briefing: STI up 0.4%
Expect more good news today.
According to OCBC, the fairly strong rebound of US indices last Friday night could inspire the local bourse to further gains this morning.
Here's more from OCBC:
Following a 0.4% rebound in the last session, we could see the STI attempting to retake the 3180 support-turned-resistance this morning.
Should the 3180 be conquered, we will see a further climb by the index towards the 3220 subsequent hurdle (key support-turned-resistance).
On the downside, 3130 is still the immediate base (key resistance-turned-support), followed by the next support at the 3100 psychological level.