In last week, STI gain a solid 118 points from the opening of 3120 and close higher at 3238. A white body candle stick with short upper shadow indicates on the slight profit taken on the rally.

Key Economics Data report:

Societe Generale forecast a lengthy emerging markets rally on Friday, becoming the latest bank to turn bullish on the sector following the Federal Reserve’s surprise decision to maintain its $85 billion per month asset purchases. Emerging markets (EM) stocks, bonds and currencies joined in Wednesday’s global surge after the Fed announcement. Markets have since pulled back — although EM assets have held some gains — but analysts said the U.S. central bank’s announcement will prove to be a pivotal moment in the longer-term.

Technical Analysis on STI

STI broke the critical resistance at 3233 in last week and close right at the resistance.

1) In weekly chart, a ...