Daily Markets Briefing: STI up 0.1%

Expect some gains today.

According to OCBC, the more than 1% gains on Wall Street overnight are likely to inspire the local bourse to a positive start this morning.

Here's more from OCBC:

As a recap, local investors remained very indecisive in the last session; the STI swung between gains and losses the entire session, before closing just 0.1% higher.

But with today’s tone likely to show significant improvements, this could provide the bulls an opportunity to test and overcome the 1-month downtrend resistance.

A bullish break of this obstacle could quickly send the index further north towards the 3490 support-turned-resistance.

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