Daily Markets Briefing: STI up 0.4%

Will today's tone further improve?

OCBC Investment Research said:

The rebound on Wall Street overnight could provide a boost to local sentiments this morning.

This especially after the successful test of the 3200 psychological support yesterday, allowing the STI to subsequently end the day with a 0.4% gain.

And with today’s tone likely to show further improvements, we could see the index resuming its recent climb towards the 3235 immediate resistance.

Above that, the next hurdle lies at the 3260 peaks. Below the 3200 psychological support, the next base is pegged at the 3155 minor trough.

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