Daily Market Opinion for 09-Oct-2013
On the 2nd day of the week, STI managed to halt it’s descend and ended with a rebound. The start of the day was a weak one as it opened with a gap down. For the first hour, selling pressure continues but when it reaches the low of 3122 level, bargain hunters gradually starts to creep in. The reversal was slow and gradual during the day and it lifted STI to as high as 3152 level. Hence, with such bullish movement during the day, STI managed to close with 9.91pts up and ended at 3146 level. Last night, US shutdown continues to plague US market and hence, DJI close 159.71pts down. Will STI be affected by DJI’s closing last night? Or STI will stubbornly hold at its support?
STI attempted to break the gap support of 3136 – 3147 levels yesterday but ...
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