Published:
Daily Markets Briefing: STI up 0.71%
Expect muted gains today.
According to OCBC, the post rate-hike euphoria on Wall Street did not last long; and with the major indices down nearly 1.5%, we could see a similar sell-off in the STI today.
Here’s more from OCBC:
Although the STI managed to close above the initial 2850 hurdle, the market breath was not convincing; and we could see the index easing back to test this resistance-turned-support again.
As before, a break could see the index sliding back to the next stronger base around 2800 before we see slightly more convincing bargain hunting taking place.
On the upside, we peg the next hurdle at 2876 ahead of the key 2900 resistance.
Read Here
Advertise
Sign Up
