Daily Market Opinion for 28-Nov-2013

STI suffered a flat day yesterday as market participants continued to stay away from the market. Weak trading volume was seen during the day indicated that that traders’ were staying cautious at current climate. STI opened with an attempt to rebound yesterday but it continued to face resistance at 3180 level as it climbed higher. Selling pressure starts to set in after the first hour of the day which pushes STI to as low as 3163 level. Bargain hunters started to enter the market to support STI when it hits the low. With that, STI was able to recover its intraday losses and ended its day with only 1.45pts down. STI closed at 3172 level. Last night, DJI continues to make small gains by closing 24.53pts higher. Will STI be able to attempt to rebound again today?

It was another day of black ...