Daily Markets Briefing: STI down 0.4%

Wall Street rebound last Friday should provide a boost this morning.

OCBC Market Commentary reports that traders may still be looking to sell into strength in case the local bourse gets a positive turnaround today.

According to OCBC, this would happen should the STI fail to convincingly clear the immediate hurdle at 3255.

Nevertheless, the daily technical indicators are somewhat more positive – the MACD has recently cross up inside the negative region while the stochastic has also cut up inside the oversold region.