Daily Markets Briefing: STI ends flat

Index predicted to improve significantly today.

OCBC Investment Research said:

The more than 1% jump by the US index futures could help boost local sentiments this morning.

As a recap, the STI continued to consolidate just below the 3130 near term support-turned-resistance, following a flat close in the last trading session.

But with today’s tone likely to improve significantly, we could possibly see the index testing this upper boundary again.

And should this obstacle be conquered, the index will likely head to the 3180 support-turned-resistance next. On the downside, we still see 3070 as the immediate resistance-turned-support, with the next base lying at the 3000 key psychological support.