Daily Markets Briefing: STI down 0.2%

An improvement is elusive today.

According to OCBC, with all the major US indices retreating overnight, this could cue the local bourse to a similarly negative opening this morning.

Here's more from OCBC:

Meanwhile, the STI took on a more consolidative stance yesterday, with a mild 0.2% pull-back.

With today’s tone unlikely to see any improvements, we could see the index continue to drift sideways with the immediate base pegged at the 3280 resistance-turned-support.

Below that, the next lies at the 3220 key trough. On the upside, 3330 support-turned-resistance is still the immediate hurdle, followed by the next obstacle marked at the 3360-3370 gap zone resistance.

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