Daily Market Opinion for 03-Oct-2014
It was another bearish day for STI as it drops much further this time round. STI gapped down in the market in reaction to the bearish closing of DJI. With lack of guidance from the HK market, STI sink further to test its support at 3240 level. This support level later failed to hold, which caused more selling pressure to enter the market. Hence, STI hit a low of 3227 level before it rebounded slightly to close at 3228.71 level. A total of 35.38pts was lost; clocking one of the largest losses of this year. Last night, DJI ended flat with 3.66pts down. When will STI end its losing streak? Where is the support of STI?
STI broke another support at 3240 level yesterday and this indicated that it will be finding it next support level. With long black candle formed, it ...
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