Daily Market Opinion for 25-Apr-2014

Daily Market Opinion for 25-Apr-2014

Another bullish day happened for STI as the market participants ignored the negativity in the market after US markets closed with negative figures. STI opened flat during the opening session and was then able to start gaining buying momentum. The buying strength was gradual in the morning session and was unable to attract strong buying strength as the Hong Kong market was not trading bullishly. It was only before market closing, STI then was able to attract more buyers into the market. The last hour purchases had helped STI to trade beyond 3280 resistance level by closing slightly higher than the resistance. STI closed at 3283.93 level with 25.92pts higher. Will STI be able to sustain its gains today? How far can STI head higher?

STI had failed to confirm the bearish reversal pattern of the previous day yesterday. This indicates that the …