YOUR MORNING COFFEE ' Wednesday 18/4/2012
SUMMARY
Wall St closed 1.5% higher, as the yield on the Spanish bond eased to 5.89%, and Spanish treasury bills attracted strong demand, easing concerns over Europe. IMF also has raised global growth to 3.5%. US
1Q'2012 corporate earnings continued to churn above expectation results.
Dow of 13,115 is on a technical rebound. It is testing the previous high of 13,297. RSI of 54, and Stochastic are recovering.
Dollar index is lower at 79.5. Upside is at 80.8.
Crude oil is higher at USD104.2. Upside is at 108.0.
Dollar yen is higher at 81.0 yen. Upside is at 82.6.
Euro/dollar is higher at 1.312. Upside is at 1.346.
Gold is higher at USD1651. Buy. It is about to resume its uptrend.
Shanghai closed lower at 2,334.
Singapore STI closed lower at 2,986.
Ringgit is weaker at 3.061. Downside is at 3.110.
S'pore ringgit is higher at 2.453. Resistance is at 2.480.
Malaysian market closed lower at 1596. On the Daily chart, it is in for a small technical rebound, as the RSI of 56 has gone neutral. Upside is at 1615. Today's range is between 1596 and 1609.
CPO June futures is higher at RM3499. Support is at 3420.
Trading : NAGAMAS ( 8923 : 0.65 ) : Targeting 0.72/stop loss 0.62, CENSOF ( 5195 : 0.42 ) : Targeting 0.47/stop loss 0.40, BERTAM ( 9814 : 0.84 ) : Targeting 1.02/stop loss 0.78, AFFIN ( 5185 : 3.08 ) : Targeting 3.58/stop loss 3.00.
Source:Jupiter Securities Research 18 April 2012