In last week, STI fell 69 points from the opening of 3098 and close lower at 3029. A long black candle stick with short upper/lower shadow indicates that investors have little qualms in selling the stocks lower.

Key Economics Data report:

A survey by the European Commission (EC) showed that confidence in the euro zone’s business climate rose for the fourth consecutive month in August, while the measure of economic sentiment improved to 95.2 in August from 92.5 in July, beating estimates in a Reuters poll.

On a less positive note, however, the euro zone’s unemployment rate was unchanged in July from the previous month, at 12.1 percent.

Economists said that while the data pointed to a modest recovery, unemployment figures confirmed that this was not yet boosting the labor market.

Technical Analysis on STI

STI broke the support at 3069 in last week and re-test the ...