YOUR MORNING COFFEE ' Tuesday 28/2/2012

SUMMARY
'' Wall St closed 0.01% lower, recovering off its earlier sell down, due to better housing figures. US pending home sales rose 2%, the highest since April 2010. Focus is on rising oil prices due to heightened tension with Iran.
'' Dow of 12,981, is targeting 13,279. Previous high is 14,198. Caution is on the key support 12,670, which will be negative if breached. RSI of 66, remains positive.
'' Dollar Index is lower at 78.5. Support is at 77.9.
'' Crude oil is lower at USD108.5. Resistance is at 114.0.
'' Dollar yen is lower at 80.5 yen. Resistance is at 81.7.
'' Euro/dollar is lower at 1.340. Resistance is at 1.354.
'' Gold is lower at USD1769. Upside is capped at 1827.
'' Shanghai closed higher at 2,447.
'' Singapore STI closed lower at 2,956.
'' Ringgit is firmer at 3.011. It is due for a correction, with support at 3.110.
'' S'pore ringgit is lower at 2.400. Support is at 2.370
'' Malaysian market closed higher at 1559. On the Daily chart, it broke the 200 MA of 1501, indicating a further upward push to 1576. Support is at 1556. RSI of 61, has stabilised. Today's range is between 1554 and 1564.
'' CPO April futures is lower at RM3254. Support is at 3023.
'' Trading : HARVEST ( 9342 : 1.23 ) : Rebounding YTL ( 4677 : 1.52 ) : Stop loss 1.42, HWGB ( 9601 : 0.40 ) : Rebounding, PENERGY ( 5133 : 1.24 ) : Targeting 1.45

Source:Jupiter Securities Research 28 February 2012