Daily Markets Briefing: STI down 0.1%

Don't expect good news today.

According to OCBC, the wild swings on Wall Street overnight could keep local sentiment cautious today; falling crude prices could also continue to weigh on O&G and energy-related stocks.

Here's more from OCBC:

Nevertheless, the STI which fell 0.1% yesterday could still be stuck in a fairly narrow range, ahead of the upcoming results season. Investors will be keenly watching out for results from Keppel Group due next week.

Technically, we see the upper cap remaining around 3375 (previous peaks) and the psychological 3300 level providing the immediate support.

However, we do not rule out a pullback to cover the minor 3252-3258 gap before the index can mount a more robust rebound.