Daily Market Opinion for 27-Dec-2012

STI continues to experience a lacklustre trading day as the market participants continue to stay in the holiday mood yesterday. Positive outcome from the Japan election had helped to lift up the mood of STI and buyers were assured that the bullish sentiment will be sustained. STI opened flat but buyers were quick to gain confidence and push the market upward gradually. The bullish strength helped STI to reach as high as 3186 level before profit taking activities were being seen. Eventually, STI managed to close 12.24pts higher and ended at 3180 level. Last night, DJI ended with 24.49pts lower after it struggled to stay positive. Will STI be able to break the key resistance level of 3180 today? Or will it consolidate back into its trading range again?

STI closed with second white candle yesterday. This continuation of white candles shows that ...