Daily Market Opinion for 16-Oct-2014

STI managed to break the losing streak yesterday with a little rebound yesterday. However, this rebound is indecisive as STI was unable to stay above 3200 level. It started the day bullishly but it faced some selling pressure at the start of the day. Low of 3194 was reached before bargain hunters start to enter the market. The buying strength was able to push STI to as high as 3210 level before selling pressure sets in. Due to the bearish opening of the European market, market participants were very concerned on the worst case scenario. Therefore, STI lost most of its gain throughout the day. Ending at 3198.72 level, with 4.32pts gains. Last night, DJI suffered another night of selling pressure by closing 173.45pts down. Will STI experience strong selling pressure again? Or will the rebound continues?

STI might have ended its ...