In last week, STI merely gain 9 points from the opening of 2982 and close higher at 2991. A white candle sticks with long upper shadow affirms on the profit taking due to uncertainty ahead.

Key Economics Data report:

On Friday, the April US jobs report released was far worse than Wall Street expected, with just 115,000 nonfarm payrolls added. The unemployment rate fell to 8.1 percent from 8.2, due to a decline in the participation rate. US stocks and oil sold off sharply on the disappointing employment report.

In the coming week, traders watch closely the weekly jobless claims, producer inflation data and trade data.

Technical Analysis on STI

STI index continue to remain below the critical resistance at 3008 as investors profit take instead of buying higher.

1) In weekly chart, a white candle sticks with long upper shadow which indicates strong profit taking.

2) The weekly trading ...