Daily Market Opinion for 10-Dec-2013

It was a weak start for STI yesterday as it failed to maintain its bullishness. The day opened with gap up action towards its resistance at 3130 level. However, its strength starts to diminish after hitting a high of 3126 level. STI starts to struggle to maintain positively after lunch hours but it failed to maintain. A low of 3108 level was hit as sellers continue to put pressure on STI.  Eventually, STI managed to close its day flat with 0.53pts down; closing at 3113 level for Monday. Last night, DJI was seen closing flat with 5.33pts up. With lack of decisive direction from the US market last night, will STI be able to rebound today? Or will the selling pressure push STI back to its support level?

STI’s attempt to rebound yesterday was a good effort being made. This shows that ...