Wall St closed 0.1% lower, as the US Fed has indicated that it will not embark on stimulus any time soon. Further, markets turned cautious following the poor Spain's bond auction. Focus is on this Friday's employment figure, with an expected 200,000 new jobs in March. Unemployment is expected to dip to 8.2%.
Dow of 13,060, is on a pullback, with support at 12,750. In the immediate term, a technical rebound to 13,200 is also likely. RSI of 48, is on a negative divergence.
Dollar Index is higher at 80.0. Upside is at 80.8.
Crude oil is higher at USD103.3. Upside is at 108.0.
Dollar yen is higher at 82.2 yen. Downside is at 80.1.
Euro/dollar is lower at 1.306. Downside is at 1.300.
Gold is higher at USD1630. Support is at 1585.
Shanghai closed higher at 2,302.
Singapore STI closed higher at 2,991.
Ringgit is weaker at 3.065. Downside is at 3.110.
S'pore ringgit is lower at 2.433. Resistance is at 2.440.
Malaysian market closed lower at 1593. On the Daily chart, it has retreated off the intraday Double top of 1609. While the RSI of 58 is in a negative divergence, a downside breach of the critical support of 1583 is needed to signal a down turn. Today's range is between 1591 and 1601.
CPO May futures is higher at RM3573. Resistance is at 3630.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....