Published:
Daily Markets Briefing: STI down 0.3%
And index could only slide further.
According to OCBC, the significant retreat on Wall Street overnight is likely to spook the local bourse to a negative start this morning.
Here's more from OCBC:
Following yesterday’s 0.3% pull-back, we could potentially see the index sliding further in the direction of its 5-month uptrend support today.
For now we see the immediate resistance at the 3310 key peak, with the next hurdle pegged at the 3360-3370 gap resistance.
On the downside, 3240 is now the immediate horizontal base (recent trough), followed by the next support level at the 3220 key trough.
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