Wall St closed 0.6% higher, due to good earnings reports. New home sales dipped 7.1% in March. S&P/Case-Shiller home prices index dropped 3.5% again in February. While Europe continues to be plagued by uncertainties, the latest bond auctions in Holland and Spain were well received, sending yields slightly lower. The US FOMC tonight is expected to leave rates unchanged.
Dow of 13,001 is on a correction, with the upside likely to be capped at 13,000. Support is at 12,710, then 12512. RSI of 49, has gone neutral.
DOLLAR INDEX is lower 79.2. Support is at 78.8.
Crude oil is higher at USD103.1. Upside is at 108.0.
Dollar yen is higher at 81.4 yen. Upside is at 82.6.
Euro/dollar is higher at 1.319. Upside is at 1.346.
Gold is higher at USD1643. Buy. It is about to resume its uptrend.
Shanghai closed higher at 2,388.
Singapore STI closed higher at 2,974.
Ringgit is weaker at 3.067. Downside is at 3.110.
S'pore ringgit is higher at 2.458. Resistance is at 2.480.
Malaysian market closed lower at 1582. On the Daily chart, it is in a correction, with the upside capped at 1589. RSI of 43, is weakening. Support is at 1564. Today's range is between 1579 and 1589.
CPO June futures is lower at RM3480. Support is at 3420.
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....