Daily Markets Briefing: STI down 1.5%

Another pullback is expected today.

According to OCBC, with the US indices plunging more than 1.5% overnight and the Nikkei 225 index currently registering a similar 1.7% loss as well, these are likely to dent local sentiments this morning.

Here's more from OCBC:

As such, we could potentially see the STI dropping quickly towards the 3270 immediate support.

Should this base be breached, the index will likely slide towards the next base at the 3200 psychological level.

On the upside, 3330 is still the immediate resistance, followed by the next hurdle at the 3360 key peaks.

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