Published:
Daily Markets Briefing: STI closed flat
Expect a recovery today.
According to OCBC, the continued recovery by the US indices overnight is likely to cue the local bourse to a positive start this morning.
Here's more from OCBC:
Meanwhile, the STI continue to flirt with the 3470 key resistance but again failed to overcome it yesterday; despite recovering as much as 0.5% intraday, the index pulled back to a flat close.
With today’s tone to remain more upside biased, we could see the index trying its luck again at the 3470 hurdle today.
On the downside, we see the immediate base at the 3430 minor trough, followed by the next support at the 3400 resistance-turned-support.
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