Daily Markets Briefing: STI up 0.2%

Index poised to test the 3320 peaks.

OCBC Investment Research noted:

As a recap, the STI continued to inch higher yesterday with a 0.2% gain; with the current momentum, the index is poised to test the 3320 peaks in the days ahead (for the third time within a month).

Should the index overcome the 3320 obstacle convincingly, it will then continue its march towards the subsequent resistance at the 3400 psychological hurdle.

IG Markets Singapore said:

In Singapore, the STI moved up 0.2% yesterday to sit tantalisingly close to the 3300 threshold at 3299 this morning. We kept a tight 15 point range on the STI yesterday and managed to close near the highs of the session, a close above 3300 would give us potential to launch a fresh attack on the 2013 high’s next week – particularly if the US has a good night tonight after payrolls.