Daily Market Opinion for 21-Jan-2015

A clear rebound had happened yesterday after facing a bag of bearishness news in the market. STI was saved by the news of China’s economic growth which brought cheers back into China’s market. The day first opened with a gap up that was led by DJI’s positive closing. Further bullish strength was seen after making a low of 3311 level. The buying momentum seems sustainable during the day as it managed to break its resistance at 3325 level. After breaking the resistance level, STI attempted to trade higher and closed at 3334.02 level. A total of 26.32pts was gained during the day. Last night, DJI ended flat with 3.66 pts up. Will STI end flat today or will it attempt to trade higher?

Breaking 3325 resistance level will be a milestone for STI currently as it signals a possible continuation of the ...