Opening of the STI was not in this week. first day of week STI open not good. Oil fell further in Asia, with weak demand and a supply glut putting relentless pressure on prices already at their lowest in five and a half years. Second day of week STI was in consolidation face, 

Asian stocks were mostly firmer after benign Chinese economic data helped offset risk aversion generated by a continuing slide in crude oil prices, while the dollar fell to a one-month low against the safe-haven yen, so nothing good happened with STI. Most Asian stock declined as the yen gained a fourth day against the dollar and commodity prices slumped. And last day of week STI was too down with 38 points. Trading Signals

STRAIT TIMES WEEKLY WRAP
OPEN: 3332.96
HIGH: 3349.19
LOW: 3291.5
CLOSE: 3300.68
CHANGE (In Points): -37.76
% CHANGE: 1.14%

Market Forecast for week ahead: This week was not good for STI. Because of continuously oil price dipping down and world economy crises. crude oil higher on Friday, holding above US$48 a barrel as  prices were well supported around current levels, although few expect a strong rebound anytime soon as global output continues to outweigh demand. If oil will take rebound then it will good for STI market. We may expect oil will take rebound then STI will be better condition in next week.

Support 1: 3275
Support 2: 3220
Support 3: 3160
Resistance 1: 3371
Resistance 2: 3404
Resistance 3: 3420

Technical Indicators: RSI is above the centre line which is supporting the uptrend for the week at 55.32 and CCI is also supportive at the level of 48.37.