Daily Market Opinion for 28-Mar-2014

It was another bullish day for STI yesterday as it continues to propel further. The opening for the day turned out to be slightly higher with some selling pressure. However, the bullish underlying did not stop buyers to continue to enter the market; bringing STI to stay beyond 3150 resistance level. The buying strength was gradual and pushed STI to as high as 3167 level before profit taking pressure entering. Before closing, STI is still able to maintain above 3150 level by closing at 3162.46 level. 19.14pts was gained yesterday. Last night, DJI ended flat with 4.76pts down. Will STI also behave similarly to DJI today? Will the bullish momentum start to taper off?

It was another major progress for STI yesterday as it managed to break 3150 resistance level. Breaking 3150 level indicates a higher high formation which confirmed that STI (Read more...)