Daily Market Opinion for 30-May-2014

STI managed to reverse from its bearish streak and it even managed to break the recent high resistance of 3284 level. This was a remarkable achievement for STI currently as it indicates that STI’s uptrend will now continue. The day started with a gap up as positive sentiment starts to enter the market. Buyers were seen rushing into the market to push STI to test 3284 level. The resistance was being broken during the first hour and it managed to sustain. At noontime, STI managed to reach a high of 3308 level before selling pressure starts to set in. Profit takers dominate the last hours and caused STI to close at 3300.71 level. 28.87pts was gained yesterday. Last night, DJI was seen recovering 65.56pts. Will STI be able to sustain their gains today? Or will it attempt to head higher?

The strong ...