, Singapore

Daily Markets Briefing: STI up 0.4%

Index could inch higher towards the 3280 mark.

OCBC Investment Research said:

The recovery on Wall Street overnight and the positive Nikkei start (up 0.6% now) are likely to provide further inspiration to the local bourse this morning.

As such, the STI which gained 0.4% yesterday could continue to inch higher towards the 3280 immediate resistance (recent peak).

Meanwhile, the MACD has also started to head higher; this suggesting that the upside momentum is improving as well.

Beyond the 3280 obstacle, the next hurdle lies at the 3320 support-turned-resistance. On the downside, the immediate support is still pegged at the 3200 psychological base, followed by the subsequent support at the 3130 minor troughs. 

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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