Fool Trader KLSE Research
Daily Summary - 11 May 2012
YOUR MORNING COFFEE ' Friday 11/5/2012
SUMMARY
SUMMARY
- Wall St closed 0.16% higher, on less than expected jobless claims, and US deficits. However, markets continue to be affected by European woes. Initial jobless claims dipped to 367,000. US trade deficits widened to USD51.8bln, less than expected.
- Dow of 12,855 is heading lower, following the breach of the key support of 13,100. A technical rebound is possible due to the oversold level. Upside is capped at 13,110. Support remains at 12,534. RSI of 40 is weakening.
- DOLLAR INDEX is higher at 80.1. Resistance is at 80.9.
- Crude oil is higher at USD97.1. Support is at 92.5.
- Dollar yen is higher at 79.9 yen. Upside is at 81.0.
- Euro/dollar is lower at 1.293. Support is at 1.282.
- Gold is unchanged at USD1594. Support is at 1544.
- Shanghai closed higher at 2,410.
- Singapore STI closed lower at 2,900.
- Ringgit is firmer at 3.070. Downside is at 3.110.
- S'pore ringgit is higher at 2.450. Upside is at 2.481.
- Malaysian market closed higher 1588. On the Daily chart, it has bottomed at the recent low of 1566. Upside is at 1592. RSI of 51, is neutral. Stochastic is overbought. Support is at 1572. Today's range is between 1585 and 1595.
- CPO June futures is higher at RM3361. Support is at 3319.
- Trading : JAKS ( 4723 : 0.565 ) : Targeting 0.66/Stop loss 0.54, MPHB ( 3859 : 2.95 ) : Targeting 3.20/Stop loss 2.80, AIRASIA ( 5099 : 3.65 ) : Targeting 4.04/Stop loss 3.50, MUDAJYA ( 5085 : 2.73 ) : Targeting 2.98/Stop loss 2.63
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