Daily Markets Briefing: STI up 0.6%

Will the STI overcome the 3120 mark?

OCBC Investment Research said:

The strong rally on Wall Street overnight is likely to boost local sentiments this morning.

And after registering a 0.6% gain in the last session, the STI could attempt to overcome the 3120 key resistance (also the 6-month downtrend resistance) again today.

Should these key obstacles be convincingly conquered, the index will likely head to the 3150 minor peaks next.

On the downside, the immediate base still lies at the 3070 resistance-turned-support, followed by the subsequent support at the 3030 level.

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