As such, we could potentially see the STI heading higher towards the 3470 resistance again today, in its third attempt this week to overcome this key hurdle.

Should this key level be conquered, the index will likely climb quickly to the next obstacle at the 3500 key psychological level.

On the downside, we see the immediate base at the 3430 minor trough, followed by the next support at the 3400 resistance-turned-support.