Published:
Daily Markets Briefing: STI up 0.5%
Today's tone likely to show improvement.
OCBC Investment Research said:
The strong showings by the US index futures are likely to boost local sentiments this morning.
As a recap, the STI posted a mild 0.5% climb yesterday as the 1-month downtrend resistance proved to be a tough nut to crack.
But with today’s tone likely to show improvement, we could see the index attempting another test of this key obstacle as well as the 3185 immediate resistance again.
Above those levels, the next resistance lies at the 3230 key support-turned-resistance. On the downside, 3060 is still the immediate base, followed by the 3000 psychological support.
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