Daily Market Opinion for 22-Jan-2015

It was another bullish day for STI yesterday as the market starts to digest all the negativity in surrounding the market. STI managed to open with a slight gap up action yesterday. The opening was accompanied by some selling action which did not manage to pull STI to a much lower level. A low of 3331 level was formed. After this low was formed, STI managed to gain bullish strength again to head towards its resistance at 3350 level. This resistance level seems to be weak as STI is able to break it without much resistance. Hence, STI was able to end its day at 3354.46 level which is also the high of the day. 20.44pts was gained yesterday. Last night, DJI gained a humble 39.05pts. Will STI be able to maintain its bullish momentum today? How far can STI surge?

STI …