In last week, STI fell 61 points from the opening of 3246 and close lower at 3185. A long black candle stick with little upper/lower shadow indicates the huge selling pressure and investors have no hesitant in selling off their stocks.

Key Economics Data report:

During the week, China’s CPI decline slightly to 4.6% but 4Q GDP was unexpectedly 9.8% high. Commodities and stock markets were hit as investor anticipating that Beijing will announce further rate hikes.

In the coming week, US 4Q GDP will be released on Friday which analysts expected a 3 percent growth

Technical Analysis on STI

STI index fall through the shoulder support at 3214 to affirms the fears of the investors on the tightening of interest rates.

1) In weekly charts, black candle stick with little upper/lower shadow affirms on the heavy selling pressure of the market.

2) The weekly trading volume remains same as ...