In last week, STI gain 18 points from the opening of 3236 and close higher at 3254. A white candle stick with short upper/lower shadow similar to a Doji indicates on the hesitation of the bulls.
Key Economics Data report:
Job growth continued in July as the U.S. economy added another 162,000 positions—enough to keep the recovery theme going but not a level likely to have a major effect on monetary policy. The number missed economist expectations of 184,000 and caused some movement in markets.
Technical Analysis on STI
STI close above the critical resistance of 3234 in last week as the index finally broke through this resistance convincingly.
1) In weekly chart, a white candle stick with short upper/lower shadow affirms that hesitant of the rally.
2) The weekly trading volume rises strongly as investor buy on the breakout of the critical resistance.
3) MACD and RSI indicators are flat as …