Daily Markets Briefing: STI shows 'early signs of exhaustion'

It could retrace back to 3230.

According to OCBC, the muted reactions on Wall Street last Thursday night are unlikely to have much effect on the local bourse morning.

Here's more from OCBC:

Following the flat close in the last session, the index has started to show some early signs of exhaustion from its recent sharp climb.

As such, we could potentially see the index consolidate around current levels or even retrace back towards the 3230 immediate support in the days ahead.

Below that, the subsequent base lies at the 3190 key trough. On the upside, 3270 is still the immediate hurdle, followed by the next obstacle at the 3300 psychological resistance.

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