Daily Market Opinion for 09-Jan-2013
STI struggled to maintain its foothold yesterday as it failed to hold above 3215 level yesterday. Although it opened with a slight gap up, STI was unable to sustain the bullishness and started to crumble after opening. There were multiple attempts to recover during the day but sellers greeted the buyers with more selling actions. Eventually, 3215 support level gave way and STI started to trade as low as 3198 level before closing. STI closed with 12.74pts lower for the day and ended at 3205 level. Last night, DJI slide further with 55.44pts down. Will STI continue to slide lower today? How low can STI go?
STI continued its bearish action with a 3rd black candle pattern yesterday. This candle had confirmed the higher high formation for STI and is now retracing to form a higher low formation. The short-term indicators also ...
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