Daily Market Opinion for 24-July-2013

STI continues to perform bullishly yesterday as the market confidence continues to build up. The day opened flat as it reacted to the flat opening of DJI. However, optimism started to build up right after opening which slowly push STI higher. The morning trading session was a slow one as buyers gradually enters the market. After the lunch hours, further optimism came in and pushes STI to as high as 3256 level before closing at 3253 level. There was little resistance to the upside during the day. With this price action, STI managed to gain 19.41pts yesterday. Last night, gains were subtle in DJI, with merely 22.19pts up. Can STI continue to trade higher and attempt to break its recent high level? Or will STI starts to weaken as it approaches its recent high?

STI closed with another white candle pattern yesterday which ...