Daily Market Opinion for 26-Nov-2014

STI had ended slightly bullish yesterday as it continues to struggle with finding its direction. It managed to open with a slight gap up but it failed to maintain its strength quickly. This leads to selling pressure in the morning session which hit a low of 3334.12 level. At this low level, the sentiment of the market starts to reverse. Buyers entered the market attempting to buy on bargains and it helped to recover the losses in the market. The buying sentiment helped STI to reach as high as 3348 level before profit taking starts to happen. Hence, STI ends the day at 3344.99 level with 4.46pts up. Last night, DJI ended flat again with 2.96pts down. Will STI be able to find its direction today?

Again, STI is still trading close to its resistance at 3350 level which it attempted …