Daily Markets Briefing: STI down 0.1%

Today could bring some good news.

According to OCBC, the modest rally on Wall Street last Friday is likely to inspire the local bourse to a positive start this morning.

Here's more from OCBC:

As a recap, the STI registered a 0.1% loss in the last session, despite pulling back as much as 0.7% at one point; this suggests that the market is still quite supportive at the moment.

And with today’s tone likely to turn more upside biased, we could see the index pushing towards the immediate resistance at the 3360 recent peak, with the subsequent obstacle lying at the 3380 key peak.

On the downside, we still peg the immediate base at the 3310 recent trough, followed by the next support at the 3280 key trough.