Daily Market Opinion for 26-Dec-2013

Christmas mood continued to help STI to achieve a higher level on Tuesday. STI was able to break the 20ma line at 3120 level during opening with a gap up action. Volatility starts to set in during the half day trade which caused STI to cover its gap. A high of 3131 was made during the day while a low of 3115 level was also made. However, due to half day trading, trading volume was seen as one of the lowest of the year. STI ended the Christmas Eve trading day with a total of 11.07pts up; closing at 3127 level. Can STI continue to show bullishness today?

Lacking of volume had caused STI to have a more volatile day on Thursday. White star pattern was formed during the day which signifies indecisiveness. This might mean that STI’s bullish momentum is starting to weaken ...