Daily Markets Briefing: STI up 0.6%

But expect a pullback today.

Accoding to OCBC, the mildly negative reactions on Wall Street last Friday night could spook the local bourse to a pull-back this morning.

Here’s more from OCBC:

Despite so, the STI is still holding its ground firmly at the moment, following its 0.6% recovery in the last session.

For now, we have shifted the immediate resistance to the 3340 immediate hurdle (minor support-turned-resistance).

Above that, the next hurdle lies at the 3380 key peak. On the downside, the immediate support is still tagged at the 3278 recent trough, followed by the next base at the 3230 key trough.

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