Fool Trader KLSE Research
Daily Summary - 10 Apr 2012
YOUR MORNING COFFEE ' Tuesday 10/4/2012
Source:Jupiter Securities Research 10 April 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
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