Further consolidation set for the STI

STI support and resistance are tipped at 2950 and 3000 respectively.

OCBC Treasury Research noted:

The STI, which fell 1.10% yesterday to 2982.49, may see further consolidation today, given negative cues from Wall Street and morning slippage by regional bourses. After gaining 13% in 2012, with gains in 15 of the last 19 days, whilst volatility was the lowest in Asia, STI support and resistance are tipped at 2950 and 3000 respectively.

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