YOUR MORNING COFFEE ' Wednesday 21/3/2012

SUMMARY
'' Wall St closed 0.5% lower, due to concerns over China's slowing growth, affecting demand for industrial commodities. Oil dipped 2%. In US, building permits rose sharply by 5.1%, although housing starts
dipped 1.1% in February.
'' Dow of 13,170, is capped at 13,270, indicating a small pullback. RSI of 63, has turned down. Caution is on the key support 12,970, which will be negative if breached.
'' Dollar Index is higher at 79.5. Downside is at 79.1.
'' Crude oil is lower at USD105.6. Support is at 103.0.
'' Dollar yen is higher at 83.6 yen. Resistance is at 85.6.
'' Euro/dollar is higher at 1.324. Support is at 1.292.
'' Gold is lower at USD1647. Downside is at 1625.
'' Shanghai closed lower at 2,376.
'' Singapore STI closed higher at 3,006.
'' Ringgit is weaker at 3.078. Downside is at 3.110.
'' S'pore ringgit is higher at 2.437. Resistance is at 2.440
'' Malaysian market closed higher at 1577. On the Daily chart, it broke the 200 MA of 1506, indicating a further upward push to 1609. Support is at 1550. RSI of 57, is neutral. Today's range is between
1570 and 1580.
'' CPO May futures is lower at RM3365. Support is at 3300.
'' Trading : HEVEA ( 5095 : 0.58 ) : Targeting 0.75, POH KONG ( 5080 : 0.57 ) : Sell into rallies, MBSB ( 1171 : 2.21 ) : Take profit, YINSON ( 7293 : 1.66 ) : Sell into rallies

Source:Jupiter Securities Research 21 March 2012