Daily Markets Briefing: STI down 0.1%

It's likely to climb to 3310 key peak.

According to OCBC, the significant recovery on Wall Street overnight could boost local sentiments this morning.

Here's more from OCBC:

Following a muted consolidation (down 0.1%) yesterday, the STI is now likely to continue its climb towards the 3310 key peak for a test soon.

Technically, the daily MACD has just climb back above its centerline as well; this suggests a fairly positive upside momentum at the moment.

Beyond the 3310 hurdle, we see the next obstacle at the 3360-3370 gap resistance. On the downside, 3260 (minor trough and uptrend support) is the immediate support, followed by the next base at the 3240 trough.