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Daily Markets Briefing: STI up 0.4%
More gains are expected today.
According to OCBC, despite a pull-back on Wall Street overnight, the better-then-expected expansion by the Singapore economy in 1Q15 could mitigate any downside pressure on the local bourse this morning.
Here's more from OCBC:
After its 0.4% gain yesterday, the STI is still on track to climb higher towards the 3500 psychological resistance in the days ahead.
Above that, the next hurdle lies at the 3600 psychological level. For now, we still see the immediate base at the 3430 resistance-turned-support, followed by the next base at the 3400 resistance-turned-support.
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