Daily Market Opinion for 11-Dec-2012

STI continues its upside surge yesterday which maintained its strong bullish movement from last week. STI opened with a strong gap up motion, breaking 3110 resistance level immediately. It attempted to test 3140 resistance level by trading as high as 3139 level. However, it struggled to maintain its bullishness during the morning session as it started to retreat slowly. Buyers shun the market as sellers made use of the high price opportunity to sell into strength. This selling action came to a halt during lunch hours but it continued right after lunch hours. During the afternoon session, the sellers continue to enter the market forcing STI to go into the much lower level. Eventually, STI ended up at 3114 level with merely 7.23pts despite bullish action during the opening. Last night, DJI had a volatile day and closed in a positive note of 14....