In last week, STI gain 24 points from the opening of 3177 and close higher at 3201. A white candle stick with short lower shadow indicates that the index rebound against the support at 3179.
Key Economics Data report:
Asian and European equity markets rallied on Friday as investors cheered remarks from Yellen, who is set to replace Ben Bernanke in January, that the U.S.’ monetary stimulus program would remain in place for now.
At her confirmation hearing before the Senate Banking Committee on Thursday, Janet Yellen said the central bank was not going to reduce its stimulus program anytime soon as she voiced concern about the economy, sluggish job growth and the low inflation rate. Overall, she was viewed as dovish and very much aligned with Fed Chairman Ben Bernanke.
Technical Analysis on STI
STI re-test the critical support at 3179 and rebound against this support.
1) In ...
...