Published:
Daily Markets Briefing: STI down 0.8%
Expect another retreat today.
According to OCBC, the significant pull-back on Wall Street overnight is likely to cue the local bourse to a negative start this morning.
Here's more from OCBC:
The abrupt 0.8% retreat by the STI yesterday (despite a positive start) could also affect local sentiments negatively today.
As such, we could potentially see the index sliding towards the 3270 resistance-turned-support.
Below that, the next base lies at the 3200 psychological support. On the upside, 3330 recent peaks is now the immediate resistance, followed by the next hurdle at the 3360 key peaks.
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