
Daily Markets Briefing: STI down 0.3%
Expect another pullback today.
According to OCBC, the retreat by the US indices overnight is likely to spook the local bourse to a negative start this morning.
Here's more from OCBC:
After a 0.3% pull-back and a likely bearish reversal just below the 3310 support-turned-resistance yesterday, the STI is now poised to correct further towards the 3270 recent trough.
Beyond the 3270 immediate support, we peg the next support at the 3230 key trough.
On the upside, we still see the next hurdle at the 3350 various peaks.