Daily Markets Briefing: STI down 0.7%

Don't expect good news today.

According to OCBC, the persistent retreat on Wall Street overnight is likely to dent local sentiments further this morning.

Here's more from OCBC:

After another 0.7% pull-back and a bearish break below the 3220 key support yesterday, the STI is now poised to maintain its decline towards the 3180 support next.

On the upside, we now see the immediate resistance at the 3220 support-turned-resistance, followed by the next obstacle at the 3270 resistance.

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