Market Review and Trends
Daily Market Opinion for 24-Jan-2014
By Jay Chia - Your Financial Mentor  •  January 24, 2014
Daily Market Opinion for 24-Jan-2014

Daily Market Opinion for 24-Jan-2014

At last, STI managed to behave decisively yesterday. A sell off was seen in STI yesterday; triggered by the weak China production figures. Although its opening was seen trading flat, coupled with attempts to rebound to a high of 3132 level, STI started to face selling pressure once HSI started to trade weakly. Selling pressure was strong as concerns that China’s weak production figure will have a direct impact on the performance of Singapore economy. Hence, STI broke 3120 support level easily and start to head as low as 3098 level. Buyers were avoiding the market currently as they are expecting further downside to happen. Hence, STI closed at 3100.24 level with 33.5pts down. Last night, DJI closed with another day of red by dropping 175.99pts. With such bearishness in place will STI continue to drop further today?

With 3120 support level ...

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By Jay Chia - Your Financial Mentor
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