Daily Market Opinion for 28-May-2014

STI ended its 3 days bullish streak yesterday as it failed to break its recent high at 3284 level. The day started strongly with attempts to break 3284 level. It managed to reach a high of 3288 level but it failed to sustain the gains. As regional market starts to lose strength, STI started to slide from its high. It went back below 3280 level again before lunch hours and stayed stagnant at the low level of 3271 for the rest of the day. Trading volume continues to be lacking yesterday. Eventually, STI closed at 3271.89 level with 8.82pts down. Last night, DJI closed with 69.23pts up. Will STI be able to recover its lost grounds today? Or will STI attempt to retrace back to its support level?

STI lost its bullish momentum yesterday. This lost of strength had quickly triggered bearish ...