In last week, STI gain 15 points from the opening of 2978 and close higher at 2993. A white candle sticks with long lower shadow affirms on the support at 2936.
Key Economics Data report:
In the coming week, Friday is the US Feb jobs report. Traders have already flagged it as necessary fuel to take the market higher. Weekly claims data has shown continued improvement in the employment picture for nearly two months, and economists expect that a total 210,000 nonfarm payrolls were added in February, below the 243,000 reported for January.
The direction of oil and gasoline prices would be another big factor for the markets. Oil in the past week rose above $110 per barrel, but slipped back down to under $107 on Friday.
Technical Analysis on STI
STI index has re-test the support at 2936 and rebound strongly to close higher.
1) In weekly chart, a white …