Published:
Daily Markets Briefing: STI up 0.4%
Expect more good news today.
According to OCBC, the persistent rally on Wall Street overnight is likely to cue the local bourse to a positive opening again this morning.
Here's more from OCBC:
As such, the STI could maintain its recovery and inch higher towards the 3310 immediate resistance today.
But we note that the 3310 region is both a key downtrend resistance and a key horizontal hurdle; it is unlikely that the index could clear this obstacle in the near term in one go.
Above 3310, we see the next hurdle at the 3350 peaks. On the downside, 3260 is the immediate support, followed by the 3230 resistance-turned-support.
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