Daily Markets Briefing: STI up 1.4%

Expect more good news today.

According to OCBC, the continued rally on Wall Street overnight is likely to keep local sentiments fairly buoyant this morning.

Here's more from OCBC:

Meanwhile, the STI recovered a further 1.4% yesterday after rebounding at the 3270 resistance-turned-support two sessions back.

With today’s tone likely to remain upside biased, we could see the index maintaining its climb in the direction of the 3370 key resistance.

Above that, we continue to peg the subsequent key resistance at the 3460 level. On the downside, 3270 is still the immediate key support, followed by the next base at the 3240 resistance-turned-support.

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