Daily Markets Briefing: STI up 0.3%

A pullback is likely today.

According to OCBC, the significant lower US index futures could spook the local bourse to a negative start this morning.

Here's more from OCBC:

Despite recovering as much as 0.6% and briefly breaching the 3360 key resistance intraday last Friday, the STI again retraced to just a 0.3% gain by the close.

With today’s tone likely to turn more pessimistic, the index might decline in the direction of the 3315 initial base.

Below that, the next support lies at the 3270 level. On the upside, 3390 key peak is the subsequent hurdle to overcome.

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