Daily Market Opinion for 11-Sep-2014

It was another indecisive day for STI as it struggles to find direction. Despite that, STI was not impacted by HSI’s large drop during the day. STI seen opening slightly lower but it attempted to trade higher during the opening session. However, due to the bearishness of HSI, STI faced selling pressure during the day. A low of 3328 level was reached before it started to rebound before closing hours. The late rebound had helped STI to lose only 4.33pts for the day. Ending the day at 3338.63 level. Last night, DJI ended higher with 54.84pts up. Will STI be able to retain its support level at 3330 level today? Or will STI attempt to rebound again?

STI had managed to test the strong support level at 3330 level yesterday and it is holding strongly. With the confluence from the 20ma line, ...