Published:
Daily Markets Briefing: STI up 0.4%
A pullback is on the cards today.
According to OCBC, despite the firmer Wall Street close Friday, US index futures have traded lower on continued uncertainty over Greece; the continued volatility in the China bourses could also impart some caution to the local bourse.
Here's more from OCBC:
While the STI ended higher Friday, it could not pierce the immediate 3291 hurdle with any conviction (intraday high at 3291.41); hence we could continue to see investors using any bounce to see into strength.Above 3291, the next resistance lies at 3302, while the main cap sits around 3357.
On the downside, the first support can be found at 3266, ahead of 3200.
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