Daily Market Opinion for 04-Apr-2013

STI managed to stay composed and stayed above 3315 level yesterday. The day started with a bullish start but it faces a flock of sellers making use of the bullish opportunity to sell into strength. This caused STI to slide lower during the morning session to as low as 3311 level before bargain hunters enter the market to support the prices. During the noon time, STI was able to recover back to its opening levels and attempted to reach as high as 3331 level before easing off again. Cautious European market opening had caused some selling pressure towards the closing hours. Eventually, STI ended at 3321 level with merely 4.18pts up despite such a volatile movement during the day. Last night, DJI was down 111.66pts. Will STI be able to sustain it bullish movement today? Or will STI consolidate at the current level?

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