YOUR MORNING COFFEE ' Tuesday 10/4/2012
SUMMARY
Wall St closed 1% lower, following a disappointing jobs report on fewer new jobs been added in March. This has revived hope of further quantitative easing, or QE3. Focus this week, is on the 1Q'2012 corporate earnings.
- Dow of 12,929, is on a pullback. It has hit a trendline support at 12,900, indicating a likely small technical rebound, with resistance at 13,000. Support remains at 12,750. RSI of 41, is on a negative divergence.
- Dollar Index is lower at 79.7. Upside is at 80.8.
Crude oil is lower at USD102.4. Upside is at 108.0.
Dollar yen is higher at 81.6 yen. Downside is at 80.1.
Euro/dollar is higher at 1.311. Downside is at 1.300.
Gold is higher at USD1642. Support is at 1585.
Shanghai closed lower at 2,285.
Singapore STI closed lower at 2,960.
Ringgit is firmer at 3.067. Downside is at 3.110.
S'pore ringgit is lower at 2.430. Resistance is at 2.440.
Malaysian market closed lower at 1591. On the Daily chart, it has retreated off the intraday Double top of 1609. With the RSI of 55 on a negative divergence, support is at 1570. Today's range is between 1587 and 1597.
CPO May futures is lower at RM3601. Resistance is at 3630.
Trading OLDTOWN ( 5201 : 1.41 ) : Take profit, POHKONG ( 5080 : 0.53 ) : Take profit, WONG ( 7050 : 0.29 ) : Targeting 0.41 / Tight stop loss 0.25, GOCEAN ( 0074 : 0.26 ) : Buy below 0.24 / Stop loss 0.21
Source:Jupiter Securities Research 10 April 2012