Daily Markets Briefing: STI ends flat

But there are signs of good news.

According to OCBC, the recovery on Wall Street last Friday night and the positive Nikkei start (up 0.6% now) are likely to cue the local bourse to a positive opening this morning.

Here's more from OCBC:

Despite a flat close in the last session, the improving sentiments could help the index inch higher towards the 3,130 minor support-turned-resistance.

On the downside, the 3,070 support has clearly been established as a vital base now, where the index halted its recent sharp descent just above this level over the past two sessions.

Should this key support be violated, we could see a quick retreat by the index towards the next key support at the 3,000 psychological level.