Daily Markets Briefing: STI down 0.2%

Mild positive start this morning.

The continued recovery on Wall Street overnight could cue the local bourse to a mild positive start this morning.

However, OCBC noticed that the STI has started to show signs of exhausting its recent recovery; this following a 0.2% loss yesterday.

It will not be a surprise to see the index retracing a tad further before resuming its upside move again thereafter.

For now, OCBC still sees the immediate obstacle at the 3340 level, with the next hurdle at the 3380 key peak.