Daily Markets Briefing: STI ended flat

Everybody's busy watching World Cup.

According to OCBC, the mild rebound on Wall Street last Friday night is likely to keep the local bourse relatively buoyant this morning.

Here's more from OCBC:

Meanwhile, the STI ended flat last Friday with average trading value falling significantly; this as more traders took to the sideline with the start of the World Cup Tournament.

And with today’s tone unlikely to see any significant changes, we could see the index drifting sideways, with the immediate support and resistance pegged at the 3280 and 3310 levels respectively.

Beyond that, the next base lies at the 3220 key trough. On the upside, the subsequent hurdle is marked at the 3360-3370 key gap zone.