Daily Market Opinion for 25-Jun-2014

Daily Market Opinion for 25-Jun-2014

World Cup season had been affecting STI’s trading volume even since it started. Yesterday turned out to be one of the lowest trading volumes of the year. STI had positive opening yesterday and it managed to withstand any selling pressure during the day. A low of 3256 level was hit but most of the time, STI was attempting to rebound higher. The rebound strength had helped STI to reach as high as 3269 level before it started to face some selling pressure before closing. Hence, STI closed with 4.63pts up, ending at 3262.03 level. Last night, DJI was seen crashing down with 119.13pts down. Will STI be affected by the bearish DJI movement? Or will STI try to maintain its support today?

Yesterday’s price movement had assured that STI is attempting to hold its support level at 3255 level. However, its 50ma …