Daily Market Opinion for 12-Sep-2014

STI managed to recover its losses again by rebounding yesterday. The morning session was greeted with a gap up opening as STI reacted positively to DJI’s previous days’ closing. This bullish opening was being well maintained as STI only hit a low of 3341 level. The support level at 3330 level was not even being tested. The bullish momentum within the day was firm as it approaches to challenge the past few day’s high. A high of 3352 level was achieved but it failed to maintain it before closing. At the end of the day, STI closed slightly lower than the recent high. STI ended at 3347.28 level with 8.65pts up. Last night, DJI ended slightly lower with 19.71pts down. Will STI follow DJI to end the day slightly lower? Or will STI attempt to test its resistance level today?

The bullish ...