Daily Markets Briefing: STI up 0.1%

Today could bring some bad news.

According to OCBC, the mild pull-back on Wall Street overnight might cue the local bourse to a negative start this morning.

Here's more from OCBC:

Meanwhile, the STI inched higher 0.1% yesterday as investors continue picking up shares at a modest rate.

With today’s tone likely to turn a tad downside biased, we could see the index holding its ground and consolidate around current levels.

We still see the immediate resistance at the 3360-3370 gap resistance, with the next obstacle pegged at the 3400 key psychological hurdle.

On the downside, 3290 (5-month uptrend support) is now the immediate support, followed by the next base at the 3270 minor trough.