Daily Markets Briefing: STI down 0.4%

Will today's tone improve?

OCBC Investment Research said:

The fairly strong rebound on Wall Street overnight is likely to boost local sentiments this morning.

Following the 0.4% pull-back back to the 3120 immediate support yesterday, the STI could potentially rebound off this base this morning.

This could send the index back in the direction of the 3180 key peak, while the next hurdle lies at 3220.

Meanwhile, the subsequent support is still pegged at the 3070 resistance-turned-support.

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