Daily Markets Briefing: STI up 0.1%

But expect a pullback today.

According to OCBC, the muted reactions on Wall Street overnight are unlikely to have much effect on the local bourse this morning.

Here's more OCBC:

Meanwhile, the STI again tested but failed to overcome the 3460 key resistance for the second time this week; index ended just 0.1% higher despite recovering as much as 0.5% intraday.

We expect the index to continue hovering just below the 3460 key obstacle today as investors await further market catalysts before making bigger commitments.

Beyond 3460, the next hurdle lies at the 3500 psychological level. On the downside, 3377-3388 gap support remains the immediate support, followed by the next base at the 3300 psychological level.

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