Daily Markets Briefing: STI up 0.3%

Today's tone likely to turn downside biased.

OCBC Investment Research said:

The pull-back on Wall Street could dent local sentiments this morning.

As a recap, the STI continued to inch higher yesterday with another 0.3% gain.

But with today’s tone like to turn more downside biased, we could see the index easing in the direction of the 3425 recent trough.

Below that, the next support lies at the 3405 key resistance-turned-support.

On the upside, the immediate resistance is pegged at the 3485 peak, followed by the 3500 psychological hurdle.

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