Daily Market Opinion for 25-Nov-2014

STI seems to be struggling to start the week with a bullish note. It opened with a bullish start which tested 3350 resistance level. In the early trading session, STI is still able to continue to trade bullishly and it even hit a high of 3356 level. However, selling pressure starts to enter the market as profit takers were seen lurking in the market. Hence, STI started to drop gradually without the support from the buyers. A low of 3339 level was hit and STI ended close to the low. Ending at 3340.53 level, STI lost 4.79pts yesterday. Last night, DJI ended flat with 7.94pts up. Will STI be able to trade higher today or will it start to retrace for lower high formation?

It is clear that STI had faced 3350 resistance level yesterday. This resistance level is a possible level …