Daily Market Opinion for 18-Feb-2015

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Daily Market Opinion for 18-Feb-2015

STI experienced a bearish Tuesday yesterday as market participants feared the outcome of Greek issues. It first opened lower and broke 3420 support level. There were attempts to trade higher during the morning session as it hits a high of 3420 level. However, the bullish attempts failed to become fruitful and hence, selling pressure took control of the rest of the day. A low of 3409 level was clocked but STI did not end up at that level. Instead, it managed to recover back to 3415 level and close at this level. 11.25pts was lost yesterday. Last night, DJI closed with 28.23pts higher. Will STI be able to gain bullish traction today or will it continue to trade lower?

                                                                                                      

STI had failed to stay above 3420 level yesterday but it does signify that it will be going for a deeper retracement. …

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