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Daily Market Opinion for 02-Aug-2013
By Jay Chia - Your Financial Mentor  •  August 2, 2013
Daily Market Opinion for 02-Aug-2013

Daily Market Opinion for 02-Aug-2013

A rebound day was recorded by STI yesterday as STI managed to gain its foothold and rebounded from its support level. The day opened with a gap up action as market started to gain confidence. The buying strength continues to appear during the morning trading session which pushes STI to as high as 3256 level before sellers dominated the market again. Selling pressure starts to set in before lunch hours which forces STI to go back to its opening level. However, further selling pressure sets in after lunch hours which caused STI to hit as low as 3234 level before rebounding again. Eventually, STI closed at 3243, a tick lower than the opening level. But STI managed to gain 21.36pts for the day. Last night, DJI was up by 128.48pts, breaking new high. Will STI be able to continue its bullish streak today? ...

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By Jay Chia - Your Financial Mentor
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