Published:
Daily Markets Briefing: STI up 0.7%
But expect a pullback today.
According to OCBC, the retreat on Wall Street last Friday night and the still negative US index futures (down about 0.3% now) could weigh on local sentiments this morning.
Here's more from OCBC:
Despite a 0.7% gain in the last session and ending a point above the 3430 immediate resistance, the bullish break was hardly convincing.
And with today’s tone likely to turn more downside biased, the index could see a mild pull-back in the direction of the 3377-3388 gap support.
On the upside, we now peg the next hurdle at the 3460 key peak.
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