Daily Market Opinion for 24-Dec-2013

It was a strong start for the week as STI reacted bullishly yesterday. The opening started with a gap up action which helped STI to reach beyond 3100 level. Retracement action was seen during the morning session to close the gap and a low of 3096 was hit. Market participants started to enter the market upon watching the HSI market rise at its opening. Confidence started pouring into the market for the rest of the day; following HSI’s bullishness. Soon, STI was able to end its day at 3116 level and made a total gain of 21.72pts for the day. Last night, DJI managed to continue its bullish streak by ending 73.47pts up. Can STI continue its bullish streak today? How high will STI go?

Another white candle was formed yesterday which indicates that the bullishness of STI is still intact. This shows ...