Daily Market Opinion for 27-Nov-2013

It was a day of struggle for STI as STI was unable to sustain its previous day’s gains. 3180 resistance level held firmly during the despite its various attempt to break it. The opening was weak while bullish attempts were seen in the early trading session. Thin trading volume failed caused the lacklustre performance of the bullish attempts. Hence, sellers dominated the market during the rest of the day. A low of 3168 level was hit but there are still some buying attempts to push STI back as regional markets were positive. Eventually, STI closed with 7.14pts down, ending at 3173 level. Last night, DJI was seen trading flat again with only 0.26pts up. Will STI continue to attempt to trade higher today? Or will selling pressure starts to set in?

STI attempt to break 3180 resistance level failed yesterday. This indicates that ...