Daily Market Opinion for 09-Apr-2014

Daily Market Opinion for 09-Apr-2014

It was a day of rebound for STI as it refuses to trade any lower. The day opened with a gap down action as it reacted to the negative DJI closing. It hit a low of 3186 level before it started the intraday rebound. Positive readings from China and Hong Kong market had helped to elevate STI’s bullishness yesterday. After HSI’s opening, STI was determined to rebound and it tested 3200 level. After lunch hours, STI managed to stay above 3200 level and even hit a high of 3211 before retracing a little. STI closed at 3204.09 level with 10.50pts gain yesterday. Last night, DJI ended flat with 10.27pts up. Will STI be able to continue its bullish momentum and head back up? Or will STI continue to consolidate at 3200 level today?

STI failed to continue its bearish retracement yesterday to …