Published:
Daily Markets Briefing: STI up 0.4%
Expect more gains today.
According to OCBC, the further gains on Wall Street last Friday night is likely to keep the local bourse fairly buoyant this morning.
Here's more from OCBC:
After showing some initial signs of overcoming the 3470 key resistance in the last session, the STI could continue to inch higher towards the 3500 psychological resistance next.
Technically, the daily MACD has also just climbed back above the centerline; this suggests that the upside momentum could be building up.
On the downside, we see the immediate base at the 3430 minor trough, followed by the next support at the 3400 resistance-turned-support.
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