Daily Markets Briefing: STI up 0.3%

Just a mild rebound.

According to OCBC, gains by the US indices and the positive Nikkei start (up 0.9% now) are likely to cue the local bourse to a stronger opening this morning.

Here's more from OCBC:

Following a mild 0.3% rebound yesterday, the STI could be poised to attempt a bullish break of its 2-month downtrend resistance today.

Should this obstacle be conquered, the index could head towards the 3265 key peak in the days ahead.

On the downside, the 3200 psychological level is the immediate base, with the subsequent support lying at the 3130 minor troughs.

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