Published:
Daily Markets Briefing: STI down 0.8%
Don't expect a turnaround today.
According to OCBC, with the US market ending mixed overnight, the local bourse is likely to start on a similar cautious note this morning.
Here's more from OCBC:
After registering a 0.8% pull-back just below the 3315 resistance in the last session, it seems like local investors are still undecided about their stance in the market.
We could continue to see the index consolidating within the 3315 immediate resistance and 3270 immediate base in the days ahead.
Beyond that, the next hurdle lies at the 3360 peaks, with the subsequent support pegged at the 3230 resistance-turned-support.
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