Daily Markets Briefing: STI up for a 'mildly positive' start

Will it overcome yesterday's hurdle?

Accordig to OCBC, the gains on Wall Street overnight are likely to cue the local bourse to a mildly positive start this morning.

Here's more from OCBC:

Meanwhile, the STI is hovering just below the 3350 immediate support-turned-resistance now; despite briefly overcoming this hurdle intraday yesterday, it failed to close above that.

We could potentially see the index attempting to overcome this immediate obstacle again today; a successful attempt will propel the index towards the next resistance at around 3390 (key downtrend resistance).

On the downside, we still see the immediate support at the 3290 key trough, followed by the next base at the 3200 key troughs.