Daily Market Opinion for 15-Jan-2015

STI continued to slide lower yesterday despite its attempt to trade higher during the day. It was trading in line with the regional markets as they were also facing the red. The day started bullishly with attempts to trade higher. It hit a high of 3349 level before it started to retrace. It was after noon time where it started to retrace further. Failing to maintain its previous day’s closing level, sellers were attracted into the market to push it lower. At closing time, STI closed at its lowest of the day at 3326.16 level. 14.91pts was lost yesterday. Last night, DJI went lower by 186.59pts. With DJI’s bearish closing, will it impact on STI’s opening today? Can STI continue to hold its current level today?

Yesterday’s movement continues to show that STI is attempting to consolidate at 3325 level and it ...