Fool Trader KLSE Research
Daily Summary - 16 May 2012
YOUR MORNING COFFEE ' Wednesday 16/5/2012
SUMMARY
- Wall St closed 0.5% lower, weighted by the current uncertainties in the Eurozone. Doubt on Greece's debt repayment next month. The 0.5% growth in the 1Q'2012 in Germany provides the only sweet spot,
- lifting the whole eurozone to 0.1%.
- Dow of 12,632 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 13,050. Support remains at 12,534. RSI of
- 32 is weakening.
- DOLLAR INDEX is higher at 81.2. Resistance is at 81.8.
- Crude oil is lower at USD93.9. Support is at 92.5.
- Dollar yen is higher at 80.3 yen. Upside is at 81.8.
- Euro/dollar is lower at 1.273. Support is at 1.265.
- Gold is lower at USD1543. Support is at 1485.
- Shanghai closed lower at 2,374.
- Singapore STI closed higher at 2,875.
- Ringgit is weaker at 3.097. Downside is at 3.200.
- S'pore ringgit is higher at 2.450. Upside is at 2.481.
- Malaysian market closed lower 1561. On the Daily chart, the current correction is on 1543 support. RSI of 36, is weakening. Stochastic has started to turn downwards. Today's range is between 1556 and 1566.
- CPO July futures is higher at RM3208. Support is at 3025.
- Trading : WINGTM ( 2976 : 1.70 ) : Targeting 1.94/Stop loss 1.62, RSAWIT ( 5113 : 1.03 ) : Sell/Resistance 1.07, GAMUDA ( 5398 : 3.56 ) : Targeting 3.90/Stop loss 3.46, AXIATA ( 6888 : 5.37 ) : Avoid/Double Top
Source:Jupiter Securities Research 16 May 2012
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