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Daily Markets Briefing: STI up 0.6%
But a pullback may happen soon.
According to OCBC, the STI initiated a fairly strong 0.6% recovery yesterday, likely buoyed by the recent significant improvements in both the Hong Kong and China stock market.
Here's more from OCBC:
However, the index is now just a tad below the 3360 key peak, and as such could potentially see a pull-back soon.
Above the 3360 hurdle, we still peg the next obstacle at the 3380 key peak.
On the downside, we now peg the immediate base at the 3310 recent trough, followed by the next support at the 3280 key trough.
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