Daily Market Opinion for 15-Oct-2014

STI was in despair yesterday as it struggled to keep its heads up. 3200 level was broken easily with a gap down opening as STI reacted strongly to the bearish closing of US market. After it had hit a low of 3191 level, STI rebounded strongly within the day. This brought STI back to above 3200 level and it eventually hit a high of 3211 level. However, this bullish rebound did not sustain and many sellers sold into strength. 3200 level was then tested again and it wavered. Before closing, STI went into red and failed to stay above 3200 level. STI ended at 3194.4 level with 7.75pts down. Will STI slide lower to reach 3180 level today? Or will it attempt to rebound back above 3200 level again?

STI is struggling to hold its support level at 3200 level yesterday and it ...