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Daily Market Opinion for 03-Jun-2014

STI started the month of June by climbing up slightly higher. STI also experienced a cautious day as trading volume was not as buoyant as last week’s. The day first opened with a slight gap up action but it failed to sustain for long after reaching a high of 3305 level. Profit takers were seen in the market which pushed STI to as low as 3293 level. However, there were also buyers sustaining the market. STI managed to close near its opening level as it was being supported by the buyers. Hence, STI closed at 3302.24 level with 6.39pts up. Last night, DJI experienced a flat day with 26.46 pts gains. Will STI be able to maintain its gains today or will it turn out to be another flat day?

 

Bullish sentiment continues to make an …