Daily Market Opinion for 14-Feb-2013

After taking a CNY break, STI gained strength to close at a new high for the year as positive data from China brought confidence back to the market.STI started off with a strong gap up at 3285 level which triggers buyers to enter the market. In the first few hours of the day, buyers continue to push STI higher till as high as 3304 level before it starts to trade in a very tight range. It was able to maintain itself close to the high for the rest of the day without much of price volatility. Eventually, STI closed at 3301 level with 30.74pts higher for the day. Last night, DJI failed to maintain its bullishness and went down by 35.79pts. Will STI be able to sustain its bullish strength today to hit its resistance level? Or will STI starts to retrace ...