Daily Markets Briefing: STI down 0.4%

Today's tone likely to improve, says analyst.

OCBC Investment Research said:

The rebound on Wall Street overnight is likely to provide some relief for the local bourse this morning.

After five consecutive sessions of pull-back with another 0.4% loss yesterday, the STI has fallen to just a tad below the 3200 level.

But with today’s tone is likely to improve, we could see the index attempting to take back this level today.

For now, 3180 is now the immediate support level, with the next base lying at the 3130 resistance-turned-support.

Above the 3200 level, the subsequent resistance is pegged at the 3270 key peaks.

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