In last week, STI gain 67 points from the opening of 2849 and close higher at 2916. A white candle sticks with little lower shadow affirms that investors have no hesitant in buying the stocks higher.
Key Economics Data report:
In the coming week, US will report January jobs on Friday. Data is likely to show lower job growth in January, with an increase of nonfarm payrolls of about 125,000 jobs.
Fed has also mentioned that there no current plans for a new QE program, but it could carry out another easing program if the economy runs into trouble. Investors believe that Fed would target the mortgage market, buying hundreds of billions of securities in an effort to keep interest rates low.
Technical Analysis on STI
STI index broke the critical resistance at 2906 and closed right at high for the 3rd consecutive week which affirm the bullishness of ...
...
