Published:
Daily Markets Briefing: STI down 0.2%
Today could get more upside biased.
According to OCBC, the recovery on Wall Street last Friday night could cue the local bourse to a positive start this morning.
Here's more from OCBC:
Despite sliding some 0.2% in the last session, the STI is still holding its ground above the 5-month uptrend support at the moment.
And with today’s tone likely to turn more upside biased, we expect the index to bounce towards the 3280 immediate obstacle again.
Above that, the next hurdle lies at the 3310 key peak. On the downside, we still peg the immediate support at 3250 (recent trough), followed by the next base at the 3220 key trough.
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