In last week, STI gains 42 points from the opening of 3153 and close higher at 3195. A white candle sticks with long lower shadow similar to a hammer affirms on the strong support of 3120 level.

Key Economics Data report:

The most important data for the coming week is the release of first quarter US GDP on Thursday. Investors expected the report to show temporary softening of the economy to a growth rate of 2 percent or less.

In addition, investors will also be monitoring the US dollar as it struggled at a three-year low which boost the oil and commodities higher. However traders are concerned that high energy prices could reduce consumer spending and hurt corporate profits.

Technical Analysis on STI

STI index has broke the resistance at 3180 to demonstrate the bullishness of the investors.

1) In weekly charts, a white candle stick with longer lower shadow indicates ...