In last week, STI merely lost 8 points from the opening of 3308 and close lower at 3300. A black candle stick with short upper shadow similar to a shooting star indicates weakness of the rally.

Key Economics Data report:

The unemployment rate dipped to 7.6 percent in March, from 7.7 percent a month earlier. But the drop came as nearly 500,000 Americans left the labor force, meaning they stopped working or looking for work and were no longer counted in the official employment numbers. The disappointing jobs growth in March came after several more promising months. The economy added 268,000 jobs in February, after gaining 148,000 jobs in January.

Technical Analysis on STI

STI index re-test the critical resistance at 3309 in this week but continue to fail to hold above this level.

1) In weekly chart, a black candle stick with short upper shadow affirms on …