Daily Market Opinion for 27-Feb-2015

STI failed to continue its bullish momentum yesterday as it started to retrace back to its support level again. STI started its day by opening slightly lower and it faced selling pressure right after its opening. The decline was firm as there was lack of rebound action during the early trading session. A low of 3417 level was reached as market participants continue to exit the market. However, bargain hunters was seen before closing hours where it helped STI to stay above its support at 3420 level. Hence, STI was then able to close at 3426.18 level with 14.65pts down. Last night, DJI was seen trading flat with 10.15 points down. Will STI be able to hold its support level today? Will rebound action start to happen today?

                                                                                                      

Failure of continuation of the bullish momentum indicates that STI is still …