In last week, STI lost 17 points from the opening of 3058 and close lower at 3041. A black candle sticks with lower shadow indicates on the strong support on the 3030.
Key Economics Data report:
Markets hate uncertainty on who will lead US which can be revealed on Tuesday’s election.
The election could be a turning point for markets and the economy. The tight race between President Barack Obama and Republican rival Mitt Romney has made for a high level of anxiety.
Technical Analysis on STI
STI index had re-test the critical support at 3030 for the 5rd time and yet again rebound strongly above this level.
1) In weekly chart, a black candle sticks with short lower shadow affirms that investors are willing to buy on the support of 3030.
2) The weekly trading volume rises as more investors began to sell on uncertainty ahead.
3) MACD and RSI indicators ...
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