
Daily Markets Briefing: STI up 0.8%
But a pullback might happen today.
According to OCBC, the retreat on Wall Street overnight is likely to dampen local sentiments this morning.
Here's more from OCBC:
Following a fairly strong 0.8% technical rebound in the last session, the STI could start drifting lower towards the 3220 key support again today.
Meanwhile, the daily MACD is still trending lower steadily; this suggests that the downside momentum is still intact.
Below 3220, the next base lies at the 3180 resistance-turned-support. On the upside, 3270 is the immediate support-turned-resistance, followed by the next hurdle at the 3310 recent peak.