Daily Markets Briefing: STI up 0.3%

Next resistance pegged at the 3500 mark.

According to OCBC Investment Research:

With both the US and European markets registering fresh gains overnight, this could keep local sentiments fairly buoyant morning.

This is likely to inspire the STI (gained 0.3% yesterday) to recover further in the direction of the 3485 immediate obstacle today.

Above the 3485 immediate hurdle, we still see the next resistance at the 3500 psychological level.

On the downside, the immediate support is now pegged at the 3425 recent minor trough, followed by the key 3405 resistance-turned-support.

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