In last week, STI gain 58 points from the opening of 3012 and close higher at 3070. A white candle sticks with little upper/lower shadow indicates investors are bullish on the rally and buy on the new round of quantitative easing
Key Economics Data report:
In last week, the Federal Reserve’s new round of quantitative easing and promise to keep policy easy well into the future propelled stocks and other risk assets higher, putting the Dow less than five percent away from its all-time high.
Traders will also be watching the violence in the Middle East that resulted in the death of the U.S. Ambassador to Libya and three others this past week. Oil prices surged above $100 Friday morning but gave up some gains on speculation that there would be crude stocks released from the Strategic Petroleum Reserve.
Technical Analysis on STI
STI index had re-test the critical ...
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