In last week, STI gain 12 points from the opening of 3193 and close higher at 3205. A thin body candle stick with long upper shadow indicates on the hesitant of the rally.

Key Economics Data report:

As European leaders took turns castigating the U.S. at a regularly scheduled summit in Brussels, however, they also sought to begin to steer the conversation away from the political bluster that threatens to inflict serious damage on the trans-Atlantic relationship.

Merkel and French President François Hollande said their countries planned to hold bilateral talks with U.S. intelligence agencies with the goal of developing a “mutual understanding for the cooperation of intelligence agencies” by year’s end.

Technical Analysis on STI

STI re-test the critical resistance at 3233 in last week but failed to close above this level.

1) In weekly chart, a candle stick with long upper shadow affirms on the profit taking ...