Daily Market Opinion for 12-Dec-2014

STI tried to hang on to its current level as it closed slightly lower. It opened slightly lower yesterday as concerns on the falling oil prices are still lingering in the market. But buyers started to enter the market in anticipation of buying into bargain. Hence, STI was able to reach a high of 3326 level before selling sets in. With regional market trading deep red, confidence in the market was lost and hence, sellers pushed STI down to a low of 3314 level. Before closing, STI was able to return back to its opening level and close near it. STI ended the day at 3318.7 level with only 7.11pts down. Last night, DJI ended 63.19pts up. Will STI be able to regain back its momentum again or will it return to test its support at 3300 level?

STI was trading in ...