Daily Markets Briefing: STI up 0.5%

More gains are expected today.

According to OCBC, the more than 1% surge by the US indices overnight could keep local sentiments buoyant this morning.

Here's more from OCBC:

As a recap, the STI maintained its recent upside momentum and climbed another 0.5% yesterday to end the session just shy of convincingly taking out the 3370 key resistance.

With today’s tone likely to remain upbeat, we could see the index making another attempt to conquer this persistent 3370 obstacle.

Should this hurdle be convincingly crossed, the index will head for the 3410 minor peak in the weeks ahead. On the downside, 3330 is the immediate support, followed by the next base at the 3300 psychological support.