Published:
Daily Markets Briefing: STI up 1%
Will today's tone remain optimistic?
OCBC Investment Research said:
The continued recovery on Wall Street overnight is likely to keep the local sentiment fairly buoyant this morning.
Meanwhile, the STI has initiated a bullish break-out from its recent consolidation pattern with a 1% rally yesterday.
And with today’s tone likely to remain optimistic, we could see the index inching higher towards the 3270 key peak next.
Above that, the next obstacle lies at the 3300 psychological hurdle. On the downside, the 3230 is now the newly established resistance-turned-support, with the next base pegged at the 3190 key trough.
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