Published:
Daily Markets Briefing: STI up 0.6%
A retreat is likely today.
According to OCBC, the minor pull-back on Wall Street overnight could cue the local bourse to a similarly mild negative start as well this morning.
Here's more from OCBC:
However, any retreat is likely to be shallow as the STI has convincingly overcome the 3315 immediate resistance yesterday.
As such, we could see the index inching higher towards the 3360 resistance in the days ahead. Beyond 3360, we see the next hurdle at the 3390 key peak.
On the downside, 3315 is now the immediate resistance-turned-support, followed by the 3270 subsequent base.
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