In last week, STI gains 64 points from the opening of 3100 and close lower at 3164. A white candle sticks with upper shadow affirms on the slight profit taking on the recent gains.

Key Economics Data report:

In the past week, it has been a volatile swing for commodities and stocks with major swings in both directions as they followed the movements in currency markets.

Rising volatility in stocks and commodities could continue in the week ahead as investors watch the U.S. economic reports for signs of recovery.

In addition, investors will focus on the European debt crisis as leaders of state will meet in the coming Tuesday. Greece, Portugal and Ireland are expected to dominate the discussion.

Technical Analysis on STI

STI index has re-test the resistance at 3180 but failed to break above this critical level.

1) In weekly charts, a white candle stick with upper shadow ...