Daily Markets Briefing: STI down 0.1%

Expect more uncertainty today.

According to OCBC, the muted reactions on Wall Street overnight are unlikely to have much effect on the local bourse this morning.

Here's more from OCBC:

Meanwhile, the STI has started to show signs of uncertainty just below the 3360-3370 gap resistance after registering a 0.1% retreat in the last session.

We could potentially see the index taking a breather around current levels as the market consolidates its recent gains.

Beyond the 3360-3370 immediate hurdle, we see the next resistance at the 3400 key psychological obstacle. On the downside, 3310 (resistance-turned-support) is now the immediate support, followed by the next base at the 3270 minor trough.