Daily Markets Briefing: STI closes flat

Expect good news today.

According to OCBC, the rally on Wall Street overnight could inspire the local bourse to a positive start this morning.

Here's more from OCBC:

Nevertheless, the STI ended flat yesterday; suggesting that investors remained hesitant about pushing the index above the 3300-3310 support-turned-resistance zone.

Still, with today’s tone likely to show some improvements, we could potentially see the index attempting to clear this resistance again.

Above 3300-3310, we still see the next hurdle at the 3350 peaks. On the downside, we peg the immediate base at the 3230 key troughs, followed by the 3180 subsequent support.