Daily Markets Briefing: STI closed flat

Expect a rebound today.

According to OCBC, the rebound on Wall Street overnight is likely to provide some inspiration to the local bourse this morning.

Here's more from OCBC:

Meanwhile, the STI remained fairly resilient (hovered just below the 3420 obstacle over the past week), despite a generally bearish tone across most global markets.

And with today’s tone likely to turn more upside biased, we could potentially see the index attempting to overcome the 3420 immediate resistance again.

Beyond that, the next hurdle lies at the 3460 key peak. On the downside, 3377-3388 gap zone is still the immediate support, followed by the subsequent base at the 3300 psychological level.

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