Published:
Daily Markets Briefing: STI down 0.3%
But it's a wee bit away from key uptrend support.
According to OCBC, the modest gains by the US indices last Friday night could inspire the local bourse to the positive start this morning.
Here's more from OCBC:
Although the STI declined for the second consecutive session (down 0.3%) in the previous session, it is now just a tad away from its key uptrend support at the 3250 region.
As such, we could potentially see a rebound coming soon, which could help push the index back towards the 3280 immediate resistance again.
Above that, the next hurdle lies at the 330 recent peak. On the downside, we see the subsequent base at the 3220 key trough.
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