Daily Market Opinion for 10-Sep-2013

It was a strong start for STI yesterday as it opened its week with a strong gap up action breaking its immediate resistance at 3050 level. This strong start was due to China’s growing export figures which brought confidence back to the market again. Regional market also soared higher, especially the Japan market after the country managed to grab the Olympic bid for 2020. These factors lead STI to open strongly during the day and even encourage buying strength within the day. Despite the buoyant start of the day, STI struggled to maintain its bullishness during the day after hitting a high of 3093 level, where selling pressure starts to enter the market gradually during the day. Buying activities were not strong as many still chose to remain cautious despite the bullish sentiment. Only when the European market opens, STI is then able to recover ...