In last week, STI gains 14 points from the opening of 3158 and close higher at 3172. A white candle stick with LONG upper/lower shadow similar to “Doji” affirms that the selling has eased and price remain supported at the critical level

Key Economics Data report:

On Friday, US market ended higher despite the November employment report displayed slow increase in new jobs. This could be pointing towards a weaker fourth quarter than other economic data has been indicating.

In the coming week, European finance ministers will meet Monday and Tuesday as the Irish will vote on their budget a contingency for the Irish aid package.

Technical Analysis on STI

STI index tested the immediate support of 3119 and rebound off this level forming a “Doji” in this week.

1) In weekly charts, white candle stick with LONG upper/lower shadow similar to “Doji” indicates that the hesitant of the traders in ...