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Daily Market Opinion for 19-Dec-2012
By Jay Chia - Your Financial Mentor  •  December 19, 2012
Daily Market Opinion for 19-Dec-2012

Daily Market Opinion for 19-Dec-2012

Yesterday, STI experienced a flat closing despite its eagerness to trade higher during the day. In reaction to DJI overnight rally, STI opened with a gap up which attempted to test the resistance at 3172 level again. However, sellers were waiting at this resistance level which forces STI down whether it was being tested. Buying strength started to whizz off after HSI started to trade into the negative zone in the morning session. Selling pressure continues to be gradual throughout the day causing STI to end with 1.91pts down at 3156 level. Last night, DJI continued its bullishness and close with 115.57pts higher with optimism on the outcome of the “fiscal cliff”. Will STI be buoyant by this optimism today? Or will the sellers continue to prevent STI from trading higher?

STI closed with another black candle with upper shadow yesterday. The upper ...

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By Jay Chia - Your Financial Mentor
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