In last week, STI lost 30 points from the opening of 2993 and close lower at 2963. A black candle sticks with long lower shadow affirms on the support at 2906

Key Economics Data report:

On Friday, the February employment report showed a better-than-expected 227,000 nonfarm payrolls were created, and revisions showed another 60,000 workers were added in December and January. This will make further monetary easing less likely for now.

Greece’s debt swap Friday triggered a credit event that would result in default. It was expected to trigger about $3.2 billion credit default swaps, a much smaller than expected amount.

Technical Analysis on STI

STI index has re-test the support at 2905 and rebound slightly on weak buying pressure.

1) In weekly chart, a black candle sticks with long lower shadow which affirms investors are willing to buy on the support of 2905.

2) The weekly trading volume fall slightly ...