YOUR MORNING COFFEE ' Monday 30/4/2012

SUMMARY

Wall St closed 0.2% higher. Markets ignored the lower than expected 1Q'2012 growth of 2.2%, as it focused on the better corporate earnings, led by Amazon. S&P downgraded Spain to BBB+. Spain
recorded an unemployment of 24.4%.
Dow of 13,228 is resuming its upward push to 13,266, then 13,297. Caution is on the key 12,800 support level. RSI of 58, has recovered.
DOLLAR INDEX is lower 78.7. Support is at 78.6.
Crude oil is higher at USD104.9. Upside is at 108.0.
Dollar yen is lower at 80.3 yen. Upside is at 82.6.
Euro/dollar is higher at 1.325. Upside is at 1.346.
Gold is higher at USD1664. Buy. It is about to resume its uptrend.
Shanghai closed lower at 2,396.
Singapore STI closed lower at 2,978.
Ringgit is firmer at 3.045. Downside is at 3.110.
S'pore ringgit is lower at 2.456. Downside is at 2.436.
Malaysian market closed lower at 1567. On the Daily chart, it is in a correction, with the upside capped at 1589. RSI of 36, is weakening. Support is at 1564. Today's range is between 1564 and 1574.
CPO June futures is lower at RM3505. Support is at 3420.
Trading : WIJAYA ( 4022 : 0.68 ) : Targeting 0.80/Stop loss 0.67, THPLANT ( 5112 : 2.70 ) : Targeting 2.90/Stop loss 2.62 , LEESK ( 8079 : 0.145 ) : Targeting 0.19/Stop loss 0.135,  AXIATA ( 6888 : 5.29 ) : Key support 5.15

 Source:Jupiter Securities Research 30 April 2012