Daily Market Opinion for 19-June-2013
STI continued to rally yesterday despite the worries of the start of the Fed discussion last night. STI opened with a slight gap up which broke the 200ma resistance line at 3190 level. There were no clear signs of strong selling yesterday as the market decisively climbed higher during the whole day. However, when STI entered the gap resistance region of 3221 – 3231 levels, STI started to face some sellers at this region. But despite the selling pressure at the gap resistance level, STI was still able to sustain its bullishness and ended up closing at 3229 level. This will be the 3rd day of gain for STI as it closes with 46.11pts up. Last night, the Fed meeting went well on its first day as expectations are that Fed will maintain its stimulus program. DJI closed with 138.38pts higher last ...
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