Daily Market Opinion for 27-Feb-2014

It was a bearish day for STI as market participants were eager to take profit off the market yesterday. In reaction to the bearish closing of US market on the previous night, STI opened with a slight gap down action. After the opening, STI did not manage to rebound but instead choose to trade lower. A low of 3080 level was being tested during the day which STI refused to go any lower than that. Before market closing time, there was some buying strength which helped STI to recover some of its lost points; causing STI to close at 3088.25 level with 15.37pts down. Last night, DJI managed to recover 18.75pts. Will STI be able to hold its grounds at current level or will it continue to seek for another support level?

STI had moved according to the anticipation yesterday as it ...