Daily Market Opinion for 23-Jul-2014

STI managed to close another day slightly higher while having light trading volume. It first opened slightly lower as STI reacted to the bearish closing of DJI on the previous night. More sellers entered the market during the early trading hours which pushed STI to as low as 3309 level. However, buyers were not fazed by the crash of M17 plane, instead, they were optimistic of the outlook of the market. High of 3321 was reached yesterday before profit takers entered the market. Hence, STI closed with 2.64pts up, ending at 3316.91 level. Last night, DJI recovered the lost points and ended with 61.81pts up. Will STI be able to continue to go higher today?

STI ended with a white candle with both upper and lower shadow. The upper shadow is longer than the lower one. This indicates that there is still ...