Daily Markets Briefing: STI closed flat

Expect some gains today.

According to OCBC, the rebound by the US indices last Friday night could help lift local sentiments this morning.

Here's more from OCBC:

Meanwhile, the STI has started to show signs of hammering a bottom in the last session; despite losing as much as 0.6% intraday, the index rebounded to a flat close.

Should the index close in the positive territory today, we will likely see it reversing from its near-term downside momentum and recover further in the direction of the 3520 immediate resistance (minor peak).

On the downside, we still see the immediate base at the 3460 resistance-turned-support.

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