Daily Market Opinion for 20-Nov-2014

STI managed to get stronger yesterday as positive vibes continue to thrive in the market. The market first opened with a gap up action which helped STI to reach 3330 resistance level quickly. Very little selling pressure was seen during the opening session as STI only hit a low of 3326 level. Buying strength was gradual throughout the day which managed to push STI to as high as 3336 level. However, some profit taking action still sets in which caused STI to end its day at 3334.56 level. With this closing, STI had managed to gain 20.83pts. Last night, DJI close flat with 2.09pts down. Will STI be affected by the indecisive closing of DJI last night? Or will STI ignore the movement and continue to trade higher today?

The strong bullish movement plus gap up will certainly bring a lot more …