Daily Markets Briefing: STI down 0.14%

Expect some profit-taking today.

According to OCBC, the rebound on Wall Street overnight could bring some cheer to the local bourse today.
Here’s more from OCBC:

The MACD has initiated a bullish crossover, suggesting that the upside momentum is picking up.

We peg the initial hurdle at 2865, ahead of its next resistance level at 2880; on the downside, we peg the immediate support at 2800, ahead of 2780.

Overall volume jumped 19.5% with 1.9b units traded, and the total value climbed 3.4% to S$0.96b; while average value/unit slipped 13.5% to S$0.50.

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