In last week, STI merely gain 10 points from the opening of 2828 and close higher at 2878. A white candle sticks with little upper shadow indicates the slight profit taking from the bulls.
Key Economics Data report:
In the coming week, US jobs report for June is released Friday, and it is expected to show tepid employment growth. But it is being watched closely since jobs are considered a major trigger for further Fed easing.
The European Central Bank also holds a much-anticipated rates meeting Thursday, and some traders expect it to cut interest rates.
Technical Analysis on STI
STI index had broke the resistance at 2854 in this week which signal a reversal on the recent pullback.
1) In weekly chart, a white candle sticks with little upper shadow indicates investors are relatively bullish on the market.
2) The weekly trading volume rises as investors began to enter the market.
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