STI weekly chart - week ending 21 Feb 2014

1. The STI close at 3,099. This is around the estimated technical level we forcast during the week ending 09Feb. It may encounter some resistance as it is touching the 10 weeks MA.

2. Generally, the STI is still below its long term 'Green trend line'. The 10weeks MA is trending down together with the 40weeks MA. This implies that the STI is still biased towards the downside.

3. For the coming week ahead:
Resistance level: 3,150