Daily Markets Briefing: STI down 0.9%

Don't expect good news today.

According to OCBC, the continued retreat by the US indices overnight is likely to dent local sentiments further this morning.

Here's more from OCBC:

Following yesterday’s 0.9% loss, the STI has seemingly breached the 3300 near term support with its downside momentum picking up as well.

And with today’s tone likely to remain more pessimistic, we could see the index sliding further towards the 3270 support.

Below that, the next base lies at the 3230 resistance-turned-support. On the upside, 3335 is still the firm resistance, followed by the next hurdle at the 3360 key peaks.

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