Daily Markets Briefing: STI down 0.3%

Will the index continue to slide?

OCBC Investment Research said:

The third consecutive session of decline on Wall Street overnight is likely to spook the local bourse, already down 0.3% yesterday, to further losses this morning.

We could see the index maintaining its slide towards the 3155 support (minor trough).

Below that, the next base lies at the 3120 key trough. On the upside, 3230 is still the immediate resistance (minor peaks), as the next hurdle is pegged at the 3260 key peaks.

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