Daily Markets Briefing: STI down 0.1%

And today is likely to be a bad day.

According to OCBC, the mild pull-back on Wall Street overnight is unlikely to offer any inspiration to the local bourse this morning.

Here's more from OCBC:

Meanwhile, the STI declined for the second day in a row with a 0.1% loss yesterday; this further suggesting that the 3285 immediate resistance remains a significant barrier for now.

And with today’s tone likely to remain more downside biased, we could see the index drifting lower towards the 3220 immediate support.

Below that, the next base lies at the 3180 resistance-turned-support. On the upside, 3300 psychological level is the subsequent hurdle to cross.

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