Daily Market Opinion for 29-May-2013

STI had halted the 2 days drop yesterday as bargain hunters starts to enter the market. Without the lead from DJI, STI managed to open with a gap up which attracted buying confidence in the market. Selling pressure was seen at 3400 level during the morning session which push STI to as low as 3393 level. But the selling pressure ease off and bargain hunters start to take control of the market which helps STI to reach as high as 3410 level. However, before closing, STI tampered off its high a little and close at 3406 level with 14.78pts higher. Last night, DJI managed to close higher with 106.29pts. Will STI be able to sustain its bullishness today? Or will lower high start to form?

STI closed with a short white candle with longer lower shadow yesterday. This candle indicates that STI is ...