Weekly Wrap

STI closed at 2811 this week, gained 73.11 points or 2.7%. It's exactly the same level in what I expected in my previous Weekly Wrap:

This is how it looks in latest weekly chart below:

For the coming week, given so much uncertainties which will affect market, it's difficult to anticipate which direction it will go. Greece election result would possible make this market very volatile in coming week.

However, just "ignore" all other factors and look at it from Technical Analysis perspective, STI appears to me bullish and it just hit 2811 resistance. The next major resistance will be 2919( my long time frame 50% level), if STI to continue rebound.

Let's see how Greece election result on this Sunday.