Daily Markets Briefing: STI down 0.6%

A rebound could happen today.

According to OCBC, the climb by the US indices to another all-time high yesterday is likely to buoy local sentiments this morning.

Here's more from OCBC:

As such, we could see the STI rebounding off the 3315 immediate support and head back in the direction of the 3360 immediate obstacle.

Technically, the daily MACD is still trending higher as well; this suggesting that the upside momentum is still intact.

Beyond 3360, the next hurdle lies at the 3390 key peak. On the downside, 3270 resistance-turned-support is the subsequent base.

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