Published:
Daily Markets Briefing: STI up 0.7%
Subsequent obstacle pegged at the 3320 mark.
OCBC Investment Research said:
The strong rally on Wall Street overnight is likely to inspire the local bourse to an optimistic start this morning.
Following a 0.7% gain yesterday, the STI could build on the positive sentiments and inch higher in the direction of the 3280 immediate hurdle.
Meanwhile, the 1-month uptrend support is still fairly intact after yesterday’s recovery.
Above the 3280 resistance, we see the subsequent obstacle at the 3320 support-turned-resistance.
On the downside, we continue to see the key support at the 3200 psychological base, with the next support lying at the 3130 troughs.
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