, Singapore

Daily Markets Briefing: STI up 0.7%

And it's likely to stay buoyant.

According to OCBC, the positive Wall Street showing overnight could continue to keep local sentiment fairly buoyant this morning; although further upside could be limited after the STI’s 0.7% jump yesterday.

Here's more from OCBC:

No doubt that the daily technical indicators have turned positive; but uncertainty in the EU over the fate of Greece could see profit-taking starting to emerge at higher levels.

For now, we peg the initial cap around 3357 (previous troughs and peaks), ahead of 3389 (38.2% retracement of the recent fall from 3549 to 3291).

On the downside, 3302 (61.8% retracement of previous rally from 3149 to 3549) remains the key support, ahead of the recent 3291 low). 

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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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Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley