In last week, STI lost 67 points from the opening of 3151 and close lower at 3084. A black candle stick with lower shadow affirms that investors took profit on many uncertainty ahead.

Key Economics Data report:

Dramas on the sovereign debt in US and Europe and the release of corporate earnings promises to make a volatile week for markets.

Washington’s political over the deficit reduction and debt ceiling discussions have heighten the nervous in the market though most believe that the debt ceiling will be raised ultimately.

By Thursday, European leaders will continue to meet on Greece issues and resolve differences over how to involve the private sector in its bailout.

Technical Analysis on STI

STI index has re-test the critical support at 3070 and rebound back to close slightly higher at 3151.

1) In weekly chart, a black candle stick with lower shadow indicates that investors have choose to …