Daily Markets Briefing: STI down 0.4%

Expect another pullback today.

According to OCBC, the continued pull-back on Wall Street overnight is likely to cue the local bourse to a negative start this morning.

Here's more from OCBC:

Meanwhile, the STI retreated some 0.4% in the last session after failing to convincingly conquer the 3430 resistance.

And with today’s tone likely to remain more downside biased, we expect the index to slip further towards the 3377-3388 gap zone support.

Below that, the next base lies at the 3300 psychological. On the upside, the next hurdle is pegged at the 3460 key peak.

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