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Daily Market Opinion for 11-Sep-2012
By Jay Chia - Your Financial Mentor  •  September 11, 2012

Daily Market Opinion for 11-Sep-2012

STI had a lacklustre trading day yesterday despite the positive sentiment on the ECB’s bond buying decision. STI opened slightly higher yesterday but the buying sentiment did not follow through. Buyers were struggling to push the prices higher during the early trading session. More selling pressure was seen after lunch hours as bargain hunters started to stay out of the market. Weak HSI closing and negative opening of European market further encouraged the selling strength. Eventually, STI closed at 3008 level with 2.98 pts down. Last night, DJI failed to maintain its bullish momentum and ended up with 52.35pts lower. Will STI also lose its bullish momentum? Will STI start to form its lower high here?

 

STI formed a black candle with upper shadow yesterday. This candle coincides with the 50ma line which could be acting as a resistance level because the ...

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By Jay Chia - Your Financial Mentor
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