Published:
Daily Markets Briefing: STI up 0.2%
Could it be ready for a test initiation?
According to OCBC, the mild retreat on Wall Street overnight could cue the local bourse to a slight pull-back this morning.
Here's more from OCBC:
Despite so, yesterday’s 0.2% gain to just below the 3360-3370 gap resistance suggested that the STI could be ready to initiate a test on this obstacle in the days ahead.
Should this hurdle be convincingly crossed, we will then see the index climbing towards the next resistance at the 3400 key psychological obstacle.
On the downside, 3310 is still the immediate base (resistance-turned-support), with the subsequent support pegged at the 3270 minor trough.
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