Daily Market Opinion for 29-Jan-2014

STI managed to stage a strong rebound and recovered its lost grounds yesterday. The opening was a weak one but market participants felt that it is a bargain opportunity in the market. Support at 3230 level held firmly, causing buying confidence in the market after hitting a low of 3031 level. Further bullishness entered the market when HSI starts to trade into the positive region. This bullish relief helped STI to recover to as high as 3065 level during noontime. At the end of the day, STI closed with 19.98pts up at 3062.41 level. Last night, DJI closed with 90.68pts up. Will STI be able to continue its bullish rebound today? How far can STI rebound to?

STI managed to stage a quick rebound yesterday. This shows that the support at 3030 level is holding very firmly and it will be a ...