Published:
Daily Markets Briefing: STI up 0.1%
Index headed to a positive start today.
OCBC Investment Research said:
With the Nikkei index having a fairly strong start (up 1.6% now), the local bourse could have a positive opening this morning.
However, any gains are likely to be limited as the STI is still clearly locked in its recent sideways consolidation (following a mild 0.1% gain yesterday).
For now, the index is still likely to swing within the boundaries supported by the 3200 psychological base and capped by the 3280 key peak.
Beyond those levels, the subsequent support lies at the 3130 minor troughs, while the next hurdle is pegged at the 3320 support-turned-resistance.
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