In last week, STI lost 23 points from the opening of 3236 and close lower at 3213. A black candle stick with short upper/lower shadow indicates that investors have no qualm on selling the stocks lower.

Key Economics Data report:

Portugal’s government survived a vote of no confidence on Thursday, but the country is not out of the woods yet. A self-imposed deadline to come to an agreement over the country’s bailout looms on Sunday.

The defeat of the motion of no-confidence, which was tabled by the smaller Green party in Portugal, was the latest installment of a political drama that started with the resignation of two government ministers who opposed austerity measures two weeks ago.

Technical Analysis on STI

STI fall below the critical resistance at 3234 in last week and close right at 3213 level as the breakout in previous week is lack of conviction.

1) In weekly chart, ...