Published:
Daily Markets Briefing: STI down 0.3%
Don't expect a turnaround today.
According to OCBC, US indices inched higher again overnight and this could cue the local bourse to a mild positive start this morning.
Here's more from OCBC:
But we noted that the STI had started to show signs of halting its ascent at the 3310 key resistance (after yesterday’s 0.3% correction).
As such, it will not be a surprise to see the index drifting back into the red after the opening and then slide towards the 3260 immediate support in the days ahead.
Above 3310, we see the next hurdle at the 3350 peaks. On the downside, 3230 is the subsequent resistance-turned-support
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