Daily Market Opinion for 27-Dec-2013

Further upside movement continues yesterday after the Christmas break. STI continues to open with positiveness in the morning yesterday. The gains were sustainable despite selling pressure during the morning session. A low of 3130 level was formed during the day while a high at 3138 level was formed too. Trading activities were low during the day as it clocked a much lower trading volume comparing to Christmas Eve. It seems that holiday mood is still in the market yesterday. DJI was closed for Boxing Day last night. Will STI be able to maintain its bullishness without any leads from US market?

It was yet another day of weak trading activity happen yesterday which created short white candle. It was an indecisive candle which indicates uncertainty in yesterday’s movement. Short-term indicators continue to show bullish readings. Stochastic might be forming bearish crossover in the overbought zone ...