Market Review and Trends
Daily Market Opinion for 02-Sep-2014
By Jay Chia - Your Financial Mentor  •  September 2, 2014
Daily Market Opinion for 02-Sep-2014

Daily Market Opinion for 02-Sep-2014

STI started the month of September by taking the bearish route yesterday. The day started with a slight gap down action which it failed to recover during the early trading session. Regional markets were weak and STI decided to react similarly. Weak China data had dampened the mood and caused STI to slide down further. 3310 support level was then tested and it was threatening to break. But the support level held well as STI managed to close its day at 3314.13 level. A total of 12.96pts was lost yesterday. Last night, DJI closed slightly higher with 18.88pts up. Will STI be able to recover its losses today? Can the support at 3310 level hold?

Yesterday’s price action indicates that STI is probably retracing for a higher low formation. The key support at 3310 level is holding well with lower shadow formation. ...

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By Jay Chia - Your Financial Mentor
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