Daily Market Opinion for 08-Apr-2014
STI had ended it winning streak yesterday as it failed to go beyond 3230 resistance level. The opening started with a gap down action as it reacted to the bearish DJI’s closing. There were still bullish buyers during the early trading session but it was being put down by the overwhelming profit takers. Before lunch hours, STI tumbled below 3200 level which it struggled to stay above it. For the rest of the day, STI tried to maintain itself above the low of 3190.54 level before closing. STI lost 19.13pts during the day and ended at 3193.59 level. Last night, DJI slide further with 166.84pts down. Will STI slide further today? Or will it attempt to go above 3200 level again?
STI confirmed its bearish piercing pattern with a bearish movement yesterday. This indicates that STI is forming a higher high ...
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