Daily Market Opinion for 24-Oct-2013
It was a day of up and down for STI as optimism was being overshadowed by increase in interest rate in China. Optimism started during the opening when STI opened as high as 3220 level and it started to creep towards 3230 resistance level. A high of 3235 level was hit during the morning session but it was soon being tapered off by sellers. As the news of increased interest rate starts to spread, STI started to fall further along with regional market. After noon time, STI was seen hitting as low as 3198 level before some buying action as seen entering the market. At the end of the day, STI closed at 3204 level with 5.41pts down; ending the bullish streak. DJI was seen retracing yesterday by dropping 54.33pts. Will STI continue to retrace today? How low will STI retrace to?
Very ...
...