Daily Market Opinion for 3-Oct-2012

Yesterday, STI firmed up strongly yesterday after DJI showed recovery on the previous night. STI opened flat yesterday but buyers started to coming into the market gradually during the morning session. The upper gap resistance of 3066 was easily broken by the buying strength. The trading activity seems to be low during the mid day as there is lack of leads from the HK and China markets. European market opening helped to lift STI up further towards 3080 resistance level and nearly tested the resistance. Eventually, the gradual incline during the day helped STI to close at 3079 level with 21.28pts higher. Last night, DJI returned part of its gains with 32.75pts down. Will STI be able to break 3080 resistance level today? Or will STI retrace like DJI last night?

STI ended with a solid white candle which signifies decisive bullish ...