Daily Market Opinion for 03-Dec-2013

It was a good start for the month of December yesterday as STI managed to start the month with a rebound. STI opened slight up as the underlying bullish momentum maintains. Buyers were slowing entering the market after HSI opened bullishly. There were some hesitations when STI reaches 3180 level but STI still managed to trade beyond it. A high of 3188 level was reached during the day. At closing time, STI manages to close at 3188 level and gained 12.41pts for the day. Despite bullish closing, STI’s trading volume was not buoyant yesterday. Last night, DJI ended its day with a bearish note with 77.64pts down. Will STI lose its bullishness today due to weak DJI’s closing?

The rebound yesterday came in timely as it indicated that STI is still attempting to stay in the symmetrical triangle formation. Its 20 & 50ma ...