In last week, STI lost 4 points from the opening of 3205 and close lower at 3201. A black candle stick with short upper shadow indicates on the fear of the critical resistance at 3233.
Key Economics Data report:
Bulls could keep the upper hand in the coming week, even with increasing warning signs that the market could be getting bubbly.
Highlights of the week will be Twitter’s stock market debut, and important economic data—third-quarter gross domestic product and October’s flukey jobs report, which should show the impact of the government shutdown.
Technical Analysis on STI
STI re-test the critical resistance at 3233 for the 2nd time in last week but failed to close above this level.
1) In weekly chart, a black candle stick with short upper shadow affirms on the weakness of the rally.
2) The weekly trading volume fall slightly as investors go sideline.
3) MACD and RSI indicators ...
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