Fool Trader KLSE Research
Daily Summary - 22 May 2012
YOUR MORNING COFFEE ' Tuesday 22/5/2012
SUMMARY
SUMMARY
- Wall St closed 1.1% higher, following G8's stance on solidifying the eurozone, and resolving the sovereign debt crisis. Broader market staged a rally despite a drop on Facebook.
- Dow of 12,504 is on a technical rebound due to the oversold technicals. It has bottomed out at 12,336. RSI of 33, is rebounding. Upside is at 12,940.
- DOLLAR INDEX is lower at 81.0. Support is at 80.4.
- Crude oil is higher at USD92.5. Support is at 88.5.
- Dollar yen is higher at 79.4 yen. Support is at 78.7.
- Euro/dollar is higher at 1.281. Resistance is at 1.300.
- Gold is higher at USD1594. Upside is at 1700.
- Shanghai closed higher at 2,348.
- Singapore STI closed higher at 2,792.
- Ringgit is firmer at 3.120. Downside is at 3.200.
- S'pore ringgit is higher at 2.464. Upside is at 2.481.
- Malaysian market closed higher 1538. On the Daily chart, it is in for
- a technical rebound to 1567, due to the oversold technicals. RSI of 33,
- has started to recover. Stochastic has started to turn upwards.
- Today's range is between 1536 and 1552.
- CPO July futures is higher at RM3118. Support is at 3000.
- Trading : MFLOUR ( 3662 : 1.45 ) : Targeting 1.70/Stop loss 1.32
- PERWAJA ( 5146 : 0.575 ) : Targeting 0.69/Stop loss 0.52, AMMB ( 1015 : 6.18 ) : Avoid, PERDANA ( 7108 : 0.50 ) : Targeting 0.58/Stop loss 0.47
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