Daily Market Opinion for 22-Jul-2014

It was another up day for STI as the bullish momentum continues. STI’s upwards movement was first started with a slight gap up action. For the morning session, the bullish strength managed to push STI to as high as 3320 level before sellers started to enter the market. After lunch hours, STI was seen trading into the negative territory to hit a low of 3309 level. It was then where buyers started to enter the market again to push STI back to its opening levels again. Despite such volatile actions during the day, STI clocked one of the lowest trading volumes for the year. With this, STI closed with only 3.74pts up, ending at 3314.27 level. Last night, DJI ended slightly down by 48.45pts. Will STI continue to maintain its break out? Will today be the day of further upside attempts?

The ...