
Daily Markets Briefing: STI up 0.6%
Expect more gains today.
According to OCBC, the more than 1% gain by the US indices last Friday night could inspire the local bourse to a similarly strong start as well this morning.
Here's more from OCBC:
After solidifying its base at the 3430 resistance-turned-support with a 0.6% rebound in the last session, the STI is now poised to continue its climb towards the 3460 immediate resistance.
Above 3460, the next hurdle lies at the 3500 psychological resistance. On the downside, the subsequent base is pegged at the 3390 level.