In last week, STI merely rebound 14 points from the opening of 2734 and close lower at 2748. A white candle sticks with long upper/lower shadow similar to “Doji” affirms that the selling has eased and investors began to buy on recent correction.

Key Economics Data report:

On Friday, Federal Reserve Chairman Ben Bernanke said central bank had marked down its outlook for US economic growth and made clear the policy focus was still on spurring a stronger recovery, but he did not provide any fresh details on steps the Fed could take.

However Bernanke made clear that the central bank found recent developments troubling and said the Fed would expand its September policy meeting to two days from one to discuss its options.

Technical Analysis on STI

STI index has re-test the critical support at 2680 in this week and managed to hold on to this level.

1) In weekly ...