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Daily Market Opinion for 23-Oct-2013
By Jay Chia - Your Financial Mentor  •  October 23, 2013
Daily Market Opinion for 23-Oct-2013

Daily Market Opinion for 23-Oct-2013

At last, STI had managed to break out of 3200 resistance level yesterday with conviction after the commodities sector continued to show bullish strength yesterday. STI opened slightly higher than 3200 level and faced some selling pressure initially. However, buyers were positive about the current market situation and started to enter the market. The buying pressure was gradual throughout the day and this pushed STI to reach as high as 3214 level before receding slightly during closing. STI ended with 14.45pts up and close at 3210 level. Last night, DJI gained 75.46pts. Can STI continue to head higher today? How far can STI go today?

With 3200 resistance level being broken, it is encouraging seeing that STI will be heading towards its next resistance level and not running the risk of lower high formation. Short-term indicators were showing bullish momentum and it is ...

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By Jay Chia - Your Financial Mentor
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