Daily Markets Briefing: STI down 0.1%

Index likely to consolidate around current levels today.

OCBC Investment Research said:

The muted reactions on Wall Street overnight could continue to keep investors on the sidelines ahead of the weekend.

The STI, which closed 0.1% lower yesterday, is likely to consolidate further around current levels today.

Above the immediate 3180 key obstacle, we still see the next resistance at 3220. On the downside, the immediate support is pegged at the 3120 trough, followed by the subsequent support at the 3070 resistance-turned-support.

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