, Singapore

Daily Markets Briefing: STI down 1.3%

Expect yet another pullback today.

According to OCBC, the significant pull-back on Wall Street overnight is likely to dampen local sentiments further this morning.

Here's more from OCBC:

After a 1.3% bearish reversal from the 3360 key resistance and breaking of the 3315 near term support yesterday, the STI is poised to slide further towards the 3270 resistance-turned-support today.

Meanwhile, the daily MACD is also on the brink of a bearish crossover now; this suggests the its downside momentum could be picking up.

Below 3270, the next support lies at the 3210 level. On the upside, 3315 is now the newly established support-turned-resistance. 

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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