Daily Market Opinion for 20-Nov-2012

STI managed to end its losing streak yesterday as it managed to close slightly higher yesterday. STI managed to open with a gap up in reaction to DJI’s positive closing on Friday’s night. There were early attempts of bullish buying during the early trading session but it fizzle out when it is close to the noontime. Low trading activities were seen during the mid day session which caused the price to be trading flat. Mixed European market opening did not stir up further bullishness but instead, concerns started to arise causing sellers to enter the market to before closing. Gains from the opening were returned which caused STI to close with 5.3pts up. STI ended at 2950 level. Last night, concerns of “fiscal cliff” eased and DJI rebounded strongly with 207.65pts higher. Will STI be able to continue its rebound today? Or will ...