In last week, STI merely gain 17 points from the opening of 2659 and close higher at 2676. A white candle sticks with little lower shadow indicates that investors are willing to buy on support level.

Key Economics Data report:

In week ahead, there are only a few U.S. economic reports which includes weekly jobless claims and Chicago purchasing managers on Thursday.

In addition, investors will be watching Chinese PMI, released Friday morning, for any signs that Chinese manufacturing could be slowing.

Technical Analysis on STI

STI index has re-test the support at 2643 and managed to close higher.

1) In weekly chart, a white candle sticks with little lower shadow affirms that investors continue to buy on the support of 2643

2) The weekly trading volume falls further on holiday seasons.

3) MACD and RSI indicators are flat as RSI trend sideways.

4) STI is currently supported by the critical support ...