Published:
Daily Markets Briefing: STI up 0.7%
But a pull back is expected today.
According to OCBC, the retreat on Wall Street overnight could dent local sentiments this morning.
Here's more from OCBC:
Following yesterday’s 0.7% rebound, the STI is now hovering just below the 3390 support-turned-resistance again; this was the key level which it has just initiated a fairly strong bearish reversal from two sessions back.
And with today’s tone likely to turn more downside biased, we could see the index falling towards the 3360 immediate support again.
Below that, we still see 3300 as the subsequent base. On the upside, the next key hurdle is still pegged at the 3460 vital peak.
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