Daily Markets Briefing: STI closed flat

Expect muted trading today.

According to OCBC, overall market tone is likely remain pretty muted as Singapore heads into the long weekend (markets are shut Friday and Monday); lackluster showing on Wall Street overnight is also unlikely to also provide much direction.

Here's more from OCBC:

Still, we note that the STI may be in the midst of a technical rebound; this after the index recovered from early lows to close almost flat yesterday.

However, we think that failure to convincingly clear the initial 3202 hurdle could encourage investors to sell into strength.

On the downside, we peg the immediate support at 3150, ahead of 3100.

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