In last week, STI gains a solid 105 points from the opening of 2640 and close higher at 2744. A white candle sticks with little upper/lower shadow indicates that investors have no hesitant in buying the stock higher.

Key Economics Data report:

In the past week, stocks have rally on optimism that Europe will find a way to shore up its banks and lever the bailout fund to stop the spread of the debt crisis. One of the option being discussed was a bigger role for the IMF, using money at its disposal or new money from its members.

However the main driver for the coming week will be first big rush of the corporate earnings report in the U.S.

Technical Analysis on STI

STI index has re-test the minor support at 2650 in this week and broke the critical resistance at 2650.

1) In weekly chart, a white candle ...