In last week, STI lost 21 points from the opening of 3291 and close lower at 3270. A black candle sticks with short upper/lower shadow indicates investors have no qualm on selling the stocks lower.

Key Economics Data report:

The future path of monetary policy will be in focus this week as several members of the Federal Reserve are scheduled to speak on the economy and policy. The central bank is currently buying $85 billion worth of assets a month as it tries to bolster the economy.

A growing number of policymakers say the Fed should taper its bond-buying when the time is right rather than bring the stimulus to an abrupt end and investors will be looking for signs of what the central bank’s exit strategy may be.

Technical Analysis on STI

STI index had breached the support at 3281 in this week and close below this support.

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