Daily Market Opinion for 22-Jan-2013

Daily Market Opinion for 22-Jan-2013

STI managed to trade higher yesterday despite regional markets trading mixed. STI opening was a flat one as it continues to struggle to find reason to trade higher. Some selling pressure was seen but the buyers were quick to overcome them. The buying strength entered the market gradually and helped STI to reach as high as 3226 level before some profit taking action happens. There weren’t much trading actions within the day but it is encouraging to see the trading volume to be at past few day’s average. Bank of Japan will be concluding their meeting today and Asian market will likely to keep a close watch on it. Will BOJ’s conclusion send a positive impact or negative impact on STI today?

STI concluded its first day of the week with a white candle. This is an encouraging candle as it confirms the support at …