Published:
Daily Markets Briefing: STI down 1.4%
A slight rebound might happen today.
According to OCBC, the persistent correction on Wall Street overnight could continue to dampen local sentiments this morning.
Here's more form OCBC:
Although we could potentially see the STI opening lower but any further downside could be limited as the index has fallen nearly 2.7% over the past two sessions and could be due for a technical rebound soon.
For now, we are pegging the immediate base to the 3270 resistance-turned-support, followed by the next support at the 3240 level.
On the upside, 3370 key peak is the immediate resistance, followed by the 3460 subsequent key resistance.
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