Greek woes plagued the market yesterday causing market participants to be quick to take their profits off the market. STI opened slightly down yesterday but it failed to sustain its opening. Selling pressure plagued the whole morning session which brought STI back to 3420 level. The bearishness worsens after lunch hours which caused STI to hit a low of 3409 level. But some short covering helped STI to rebound before market closes. Hence, STI was able to close at 3419.17 level with 25.4pts down. Last night, DJI was seen rebounding with 110.24pts up. Will STI continue to face further selling pressure today? Or will STI attempts to rebound with DJI’s bullish lead?
The strong retracement came to a surprise to many yesterday as STI was suppose to continue its bullish momentum. Furthermore, 2 days worth of gains are being wiped …Read the full article →