Daily Market Opinion for 22-May-2013

STI failed to keep its heads up yesterday and sinks lower as concerns of Bernanke’s speech looms the market. STI opened flat during the opening session but it failed to sustain the level. Sellers was quick to be seen during the morning session which pushed STI to as low as 3431 level. However, the support at 3430 level held well as buyers were waiting to support this level. Before lunch hours, STI rebound a little, of which it did not show much strength during the day. Trading activity was not buoyant during the mid day as if market participants took a long lunch break. Before the market closing hours, trading activities were hyped up a little which caused STI to close at 3443 level; 10.33pts down. Last night, DJI manage to rebound a little with 52.30 pts higher. Can STI rebound from its ...