In last week, STI fell 15 points from the opening of 3261 and close lower at 3246. A black candle stick with lower shadow indicates that traders began to take profit from the market.
Key Economics Data report:
On Friday, U.S. retail sales reported a lesser-than-expected improvement of 0.6% in December and consumer-sentiment index’s preliminary reading for January unexpectedly fell.
However there was a smaller-than-expected increase in U.S. business inventories due to overwhelming holiday sales that drew down supplies, while industrial production and capacity utilization increased more than expected.
Beijing plan to raise China banks’ reserve-requirement ratio by 0.5% following six increases in 2010 to restrain inflation.
Technical Analysis on STI
STI index could not hold above the 3250 support due to the recent tightening of policy on Singapore property market.
1) In weekly charts, black candle stick with lower shadow affirms that the rally remains relatively …