Daily Market Opinion for 14-Nov-2014

Daily Market Opinion for 14-Nov-2014

STI had stopped it’s descend yesterday by staging a strong rebound. This rebound was catalyzed by strong earnings being reported. The opening was a positive one and it managed to maintain itself well. With a mere retracement in the early trading session to hit a low of 3285 level, STI was able to continue its bullish movement for the rest of the day. Trading volume picked up yesterday, this helped to give more bullish confidence to the market participants. This allowed STI to hit a high of 3313 level before some profit taking starts to take place. With this day being bullish, STI managed to close at 3304.93 level with 21.22pts up. Last night, DJI managed to 40.59pts worth of gains. Will the positive closing help STI to achieve a much higher level today? Or is STI coming near to its resistance …