Daily Markets Briefing: STI down 0.4%

Expect some gains today.

According to OCBC, the recovery by the US indices overnight could have some mild positive impact on the local bourse this morning.

Here's more from OCBC:

After breaching its 3500 immediate support yesterday with a 0.4% loss yesterday, the STI should be attempting to retake this level.

But should the index fail to retake the 3500 level soon, we will likely see a further correction towards the 3460 key resistance-turned-support thereafter.

On the upside, we still see the key resistance at the 3540 key peak.

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