Published:
Daily Markets Briefing: STI down 0.7%
Index headed to a positive opening, says analyst.
OCBC Investment Research said:
With US index futures heading higher after Ben Bernanke’s overnight comments, the local bourse is likely to take cue with a positive opening this morning.
Even so, any potential upside could be limited as the index has already started to show signs of violating its 1-month uptrend support with a 0.7% correction yesterday.
For now, we continue to see the key support at the 3200 psychological base; the next support lies at the 3130 troughs.
On the upside, 3280 is still the immediate obstacle, followed by the next hurdle at the 3320 support-turned-resistance.
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