Daily Market Opinion for 22-Apr-2013

STI started the week with positive note yesterday. Market confidence was seen coming back as commodities prices started to recover during the day. STI opened with a gap up movement which failed to sustain during the morning session. Sellers were trying to force STI back towards 3280 support level but their efforts were unfruitful; When STI hit as low as 3291 level, Buyers started to enter the market to sweep up the bargains around noon period. This positive continued throughout the rest of the day and lead STI to close at 3308 level. 14.87pts of gains were being achieved yesterday. Last night, DJI experienced a volatile day and ended with 19.66pts up. Can STI continue its upside today? Or will STI still struggle with its upside?

STI closed with a white candle with longer lower shadow yesterday. This candle shows that there is ...