Daily Markets Briefing: STI down 0.3%

Another retreat is on the cards today.

According to OCBC, the retreat on Wall Street last Friday night and the still negative US index futures (down about 0.2% now) could dampen local sentiments further this morning.

Here's more from OCBC:

Following a 0.3% correction in the last session, the STI will likely continue its decline in the direction of the 3300 psychological support today.

Meanwhile, the daily MACD has also just fallen below its centerline and this suggests a pick-up in the current downside momentum.

On the upside, we still peg the immediate resistance at the 3390 support-turned-resistance.

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