Daily Market Opinion for 14-Feb-2014

Daily Market Opinion for 14-Feb-2014

It was another bullish day for STI as STI was supported by bullish Singtel despite bad showing by regional markets. STI first opened lower as it reacted to DJI’s negative closing. There was a moment of bearishness which pushed STI to a low of 3027 level before the buying strength sets in. The buying momentum maintained well during the morning trading session and the early afternoon session, which hit a high of 3050 level. However, profit taking pressure starts to enter the market close to end of the day which caused STI to close at 3039.9 level. Only 4.45pts was gained from this bullish attempt. Last night, DJI was seen recovering 63.65pts. Will STI be attempting to trade higher again today? Will the bullish strength start to weaken?

STI failed to confirm the bearish candle yesterday and instead showed a white candle. …