Daily Market Opinion for 6-Nov-2013
It was another flat day for STI as market participants continues to stay cautious yesterday. STI opened with a gap up and attempted to trade higher. However, when it reaches a high of 3217 level, sellers started to enter the market. HSI’s negative opening stirred the sellers to exit the market in fear of further selling pressure. For the rest of the day, STI continues to trade close to 3200 level and did not show any signs of rebound. Hence, STI closed with 1.6pts up which ended at 3205 level. Last night, DJI close with 20.90pts down. Will STI be able to maintain its support at 3200 level today? Will a reversal candle start to form today?
It was another day of black candle for STI while 3200 support level remains intact. The consolidative movement had continued and this indicates that STI is ...
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