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Daily Markets Briefing: STI up 0.8%
Expect more good news today.
According to OCBC, the rebound on Wall Street last Friday night and the still-positive US index futures, could see a positive start for the local bourse this morning.
Here's more from OCBC:
Following a 0.8% climb and after punching above the 3390 immediate resistance in the last session, the on-going outlook for the STI has improved significantly.
Still, we would not rule out a short-term technical correction in the days ahead as the index could look to reinforce the 3390 newly established resistance-turned-support level before continuing its recovery.
On the upside, we now see the immediate resistance pegged at the 3460 key peak.
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