OUR MORNING COFFEE ' Wednesday 29/2/2012


SUMMARY
'' Wall St closed 0.2% higher, comforted by a small dip in oil price, and a 1 year high in consumer confidence index of 70.8. However, durable goods slumped 4% in January.
'' Dow of 13,005, 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 67, remains positive.
'' Dollar Index is lower at 78.2. Support is at 77.9.
'' Crude oil is lower at USD106.5. Support is at 103.0.
'' Dollar yen is lower at 80.5 yen. Support is at 79.0.
'' Euro/dollar is lower at 1.348. Resistance is at 1.354.
'' Gold is higher at USD1786. Upside is capped at 1827.
'' Shanghai closed higher at 2,451.
'' Singapore STI closed higher at 2,965.
'' Ringgit is firmer at 2.997. Resistance is at 2.96.
'' S'pore ringgit is lower at 2.404. Support is at 2.370
'' Malaysian market closed lower at 1556. On the Daily chart, it broke the 200 MA of 1501, indicating a further upward push to 1576. Support is at 1556. RSI of 58, is weakening. Today's range is
between 1554 and 1564.
'' CPO April futures is higher at RM3289. Support is at 3023.
'' Trading : UEMLAND ( 5148 : 2.20 ) : Take profit, PREMIER ( 9458 : 0.425 ) : Targeting 0.51, OPENSYS ( 0040 : 0.13 ) : Targeting 0.17, IFCAMSC ( 0023 : 0.13 ) : Targeting 0.20

Source:Jupiter Securities Research 29 February 2012