Daily Markets Briefing: STI up 0.3%

STI to register further gains today, says analyst.

OCBC Investment Research:

The rally on Wall Street overnight is likely to cue the local bourse to a positive start this morning.

Coupled with the 0.3% rebound yesterday, we could potentially see the STI registering further gains today while attempting to overcome the 3120 key resistance again.

Should the 3120 key obstacle be taken out convincingly, we will see the index heading to the 3150 minor peaks next.

On the downside, the immediate base is still pegged at the 3070 resistance-turned-support, followed by the next support at 3030.

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