Daily Markets Briefing: STI down 0.6%

Index likely to see further correction today.

OCBC Investment Research noted:

With the STI losing more than 0.6% yesterday and its downside momentum building up, we are likely to see a further correction today. The 3-month uptrend support could give way as the index slip towards the 3260 minor trough. Below that, the subsequent vital support lies at the 3230 key resistance-turned support. On the upside, we still see the immediate key resistance at the 3320 peaks, with the next obstacle marked at the 3400 psychological resistance.

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