Fool Trader KLSE Research
Daily Summary - 28 May 2012
YOUR MORNING COFFEE ' Monday 28/5/2012
SUMMARY
- Wall St closed 0.6% lower, due to continuing concerns over a possible Greece exit from the eurozone, the contagion effects, and the Spanish banks. This was despite the 4 year high on the consumer sentiment index of 79.3.
- Dow of 12,454 is on a technical rebound due to the oversold technicals. It has bottomed out at 12,311. RSI of 33, is oversold. Upside is at 12,940.
- DOLLAR INDEX is lower at 82.1. Resistance is at 82.8.
- Crude oil is higher at USD90.6. Support is at 88.5.
- Dollar yen is higher at 79.6 yen. Upside is at 81.2.
- Euro/dollar is lower at 1.257. Support is at 1.220.
- Gold is higher at USD1575. Upside is at 1700.
- Shanghai closed lower at 2,333.
- Singapore STI closed lower at 2,772.
- Ringgit is stronger at 3.144. Downside is at 3.200.
- S'pore ringgit is lower at 2.464. Upside is at 2.481.
- Malaysian market closed higher 1551. On the Daily chart, it is in for a technical rebound to 1567, due to the oversold technicals. RSI of 41, has started to recover. Stochastic has started to turn upwards.
- Today's range is between 1544 and 1558.
- CPO July futures is higher at RM3154. Support is at 3000.
- Trading :
Source:Jupiter Securities Research 28 May 2012
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