Daily Markets Briefing: STI up 0.7%

Next hurdle pegged at the 3320 mark.

OCBC Investment Research said:

The pull-back on Wall Street overnight and the flat Nikkei start (down 0.3% now) are likely to cue the local bourse to a negative opening this morning.

This especially after the STI’s 0.7% rebound yesterday.

But as long as 3200 holds, the index still looks poised to inch higher towards the 3260 resistance in the days ahead.

Above that, the next hurdle lies at the 3320 support-turned-resistance. Below the 3200 base, the next support is pegged at the 3155 minor trough.

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