In last week, STI merely gain 10 33 points from the opening of 3136 and close higher at 3146. A black candle sticks with long upper shadow similar to the “shooting star” affirms that the resistance at 3180 remains very strong as investors took profit near that region.
Key Economics Data report:
In the past week, there has been a series of disappointing reports in US that have indicate a slowdown across the economy.
The Friday’s employment report display a rise in unemployment to 9.1 percent and job growth of 54,000 which is only one third of economists’ consensus forecast and well below April’s revised. The drop in job growth created fears into investor to consider whether the economy is temporarily stalled or ready to hit the skids.
For the coming week, the focus will be on the Fed which winds down its quantitative easing program at the end ...
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