Fool Trader KLSE Research
Fool Trader KLSE Research
YOUR MORNING COFFEE ' Tuesday 3/4/2012
SUMMARY
- Wall St closed 0.4% higher, warming to the stronger than expected manufacturing data, and lower inflation. ISM manufacturing index rose to 53.4. April is expected to be an up month, as it has being seasonally. Focus is on this Friday's employment figure.
- Dow of 13,264, has completed its small pullback at 13,002, indicating a resumption of upmove. The all time high is at 14,198. RSI of 62, is neutral. Caution is on the key support 12,860, which will be negative if breached.
- Dollar Index is unchanged at 78.8. Downside is at 78.6.
- Crude oil is higher at USD105.2. Upside is at 108.0.
- Dollar yen is lower at 81.9 yen. Downside is at 80.1.
- Euro/dollar is lower at 1.333. Upside is at 1.347.
- Gold is higher at USD1677. Upside is at 1728.
- Shanghai closed higher at 2,262.
- Singapore STI closed higher at 3,015.
- Ringgit is stronger at 3.048. Downside is at 3.110.
- S'pore ringgit is lower at 2.433. Resistance is at 2.440.
- Malaysian market closed higher at 1603. On the Daily chart, it is heading for 1610-1617, with the overhead resistance at 1628. Critical support is at 1585. RSI of 69, remains firm. Stochastic is steady. Today's range is between 1598 and 1608.
- CPO May futures is higher at RM3538. Resistance is at 3630.
- Trading : BSTEAD ( 2771 : 5.47 ) : Targeting 6.40, AT ( 0072 : 0.26 ) : Targeting 0.34, KNM ( 7164 : 0.85 ) : Buy below 0.78, BERTAM ( 9814 : 0.82 ) : Stop loss 0.79
Source:Jupiter Securities Research 03 April 2012
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