Daily Market Opinion for 19-Dec-2014

STI continued its rebound yesterday as the market cheer on FOMC decision to delay their interest rate hike. This cheerful mood opened the market with a gap up action which helped STI to break its resistance at 3230 level. This strong opening sustained for a while before profit takers or shortists starts to enter the market. This selling pressure during the day caused STI to hit a low of 3227 level before bargain hunters entered the market. Before closing hours, STI then managed to recover back its points lost during the day and even hit a high of 3252 level. It then settled at 3243.65 level with 16.42pts up. Last night, DJI rejoiced to the good news by FOMC and gained a whopping 421.28pts. Will STI be able to continue their bullishness today? How far can it rise?

The positive closing of ...