YOUR MORNING COFFEE ' Friday 23/3/2012

SUMMARY
'' Wall St closed 0.6% lower, on slowing global growth, as China and Germany reported soft manufacturing data. HSBC Chinese manufacturing index down to 48.1, below the 50 level, indicating contraction. Initial jobless claims dipped to a 4 year low of 348,000. And leading Economic indicators up by 0.7%.
'' Dow of 13,046, is capped at 13,270, indicating a small pullback. RSI of 53, has turned down. Caution is on the key support 12,860, which will be negative if breached.
'' Dollar Index is higher at 79.6. Downside is at 79.1.
'' Crude oil is lower at USD105.3. Support is at 103.0.
'' Dollar yen is lower at 82.5 yen. Support is at 81.9.
'' Euro/dollar is higher at 1.320. Support is at 1.292.
'' Gold is lower at USD1642. Downside is at 1625.
'' Shanghai closed lower at 2,375.
'' Singapore STI closed lower at 2,983.
'' Ringgit is weaker at 3.081. Downside is at 3.110.
'' S'pore ringgit is higher at 2.437. Resistance is at 2.440
'' Malaysian market closed higher at 1583. On the Daily chart, it broke the 200 MA of 1506, indicating a further upward push to 1609.
Support is at 1550. RSI of 61, is up. Today's range is between 1578 and 1588.
'' CPO May futures is lower at RM3342. Support is at 3300.
'' Trading : GAMUDA ( 5398 : 3.60 ) : Stop loss 3.50, CIMB ( 1023 : 7.62 ) : Targeting 8.16, PERISAI ( 0047 : 0.89 ) : Targeting 0.95-1.00, MHC ( 5026 : 1.77 ) : Take profit

Source: Jupiter Securities Research 23 March 2012