Daily Markets Briefing: STI down 0.2%

But there's still some good news.

According to OCBC, the S&P500 index inched to another all-time high last Friday night and this could have a mild positive effect on the local bourse this morning.

Here's more from OCBC:

Meanwhile, the STI managed to bounce off the 3280 support in the last session despite ending the day 0.2% in the red; this further reinforce the strength of this horizontal support.

Going forward, the index could climb higher towards the 3300 psychological resistance for a test again. A break above this obstacle will send the index towards the 3360-3370 gap zone next.

On the downside, we still see the next support level at the 3220 key trough.

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