Daily Market Opinion for 10-Jan-2014

STI failed to continue its bullishness yesterday as the MA resistance were holding firmly. The start of the day was weak as it opens lower. However, the week start is coupled with bullish attempts to push STI back into the positive territory. During the morning trading session, STI was able to reach as high as 3154 level before sellers start to enter the market. STI was back in red during noontime and it struggled to make any bullish attempts thereafter. Hence, STI ended its day at 3145.41 level with 5.24pts down. Last night, DJI was down by 17.98pts. Have yesterday’s bearish movement made STI lost its possible bullish attempt to start an uptrend momentum?

STI closed with a short white candle with both upper and lower shadow yesterday. With the white candle body, it signifies that STI still does have an element ...