Published:
Daily Markets Briefing: STI up 1.1%
Expect muted gains today.
According to OCBC, the modest rebound on Wall Street overnight could continue to keep local sentiment fairly positive this morning; although we note that the ongoing Greece crisis could put a lid on the tone, especially after the STI’s 1.1% rebound yesterday.
Here's more from OCBC:
As such, we could see potential selling into strength if the index fails to clear the recent 3357 hurdle again (made several failed attempts previously).
On the downside, we peg the initial support at 3302 (61.8% retracement of the 3149-3549 rally), ahead of 3267.
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