Daily Market Opinion for 17-Feb-2015

It was a shaky start for STI yesterday because of the concerns on PM Lee’s prostate cancer surgery. Apart from this concern, Noble also got a hit by the market as it was being alleged by Iceburg that its way of accounting is not right. Hence, STI had a bearish opening and was forced to hit a low of 3406 level during the morning trading session. However, after the news of the success of PM Lee’s surgery, market participants were being assured and started to enter back into the market. 3420 support level was being regained and STI managed to close at its high of the day. STI closed at 3427.16 level and gained only 0.94pts. Last night, DJI was seen gaining 46.97pts. Will STI be able to sustain above its support level again? Or will it attempt to trade lower again?