Daily Markets Briefing: STI up 0.3%

Today’s tone likely to show some improvement.

OCBC Investment Research said:

The rebound on Wall Street overnight could lift local sentiments slightly this morning.

Despite opening below the 3190 immediate support yesterday, the STI recovered back above this level subsequently with a 0.3% higher close.

With today’s tone likely to show some improvement, we could potentially see the index inching higher in the direction of the 3230 immediate resistance again.

Beyond that, the next hurdle lies at the 3260 subsequent peaks. On the downside, 3150 is the next support level to watch out for.

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