In last week, STI gain 55 points from the opening of 3071 and close higher at 3126. A white candle sticks with little upper/lower shadow affirms to investors buying on April earning reports ahead.
Key Economics Data report:
On Friday, U.S job employment reported a record 2nd consecutive month of gains in March and unemployment rate decline to two-year low of 8.8 percent, signaling that the improvement in the labor market should help to boost the economic recovery.
However investors remain alert as jobless rate would be one of the pushing factors that prompt Fed to raise their first interest rate hike since December 2008.
Technical Analysis on STI
STI index has been re-tested the critical resistance at 3120 and closed slightly above for the first time in the week since Feb 2011.
1) In weekly charts, a white candle stick with little upper/lower shadow affirms that investors ...
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