Published:
Daily Markets Briefing: STI down 1.2%
Expect a rebound today.
According to OCBC, the rebound on Wall Street overnight could provide a lift to local sentiments this morning.
Here's more from OCBC:
After another sharp 1.2% retreat yesterday, we think that the STI could also be poised for a technical rebound today.
However, it could be too early to start accumulating as traders could still look to sell into strength again when the index heads back towards the 3300 immediate resistance.
Above 3300, we see the next hurdle at the 3350 peaks. On the downside, we now see the immediate base at the 3230 key troughs, followed by the 3180 subsequent support.
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