Daily Market Opinion for 14-Aug-2014

STI ended slightly lower yesterday as the market is still not confident of the upside. The opening was slightly down but it was plagued with bearish sentiment for the rest of the day. A low of 3293 level was formed as it was supported by bargain hunters around that level. Rebound actions started in the late afternoon as bargain hunters started to enter the market. Opening level was being recovered and it hit a high of 3303 level before settling for closing at 3301.41 level. Therefore, STI closed with 1.98pts down. Last night, DJI was seen trading higher with 91.26pts up. Will STI be able to sustain its current levels and start to rebound again today?

Although STI trades slightly lower yesterday, its underlying strength is a bullish one as it managed to close with a white candle. Short-term indicators were also ...