Fool Trader KLSE Research
Daily Summary - 29 May 2012
YOUR MORNING COFFEE ' Tuesday 29/5/2012
SUMMARY
SUMMARY
- Wall St closed for the Memorial day. Concerns over a possible Greek exit from the eurozone, the contagion effects, and the health of Spanish banks remain. Focus is on this Friday's job number, which is expected to show 155,000 jobs added in May.
- 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 higher at 82.3. 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 1.252. Support is at 1.220.
- Gold is lower at USD1572. Upside is at 1700.
- Shanghai closed higher at 2,361.
- Singapore STI closed higher at 2,788.
- Ringgit is weaker at 3.159. Downside is at 3.200.
- S'pore ringgit is higher at 2.468. Upside is at 2.481.
- Malaysian market closed higher 1554. On the Daily chart, it is in for a technical rebound to 1570, due to the oversold technicals. RSI of 44, has started to recover. Stochastic has started to turn upwards. Today's range is between 1548 and 1558.
- CPO July futures is higher at RM3152. Support is at 3000.
- Trading : SMI ( 4375 : 0.27 ) : Avoid, DIGI ( 6947 : 3.95 ) : Targeting 4.20/Stop loss 3.89, PERMAJU ( 7080 : 0.84 ) : Targeting 1.02/Stop loss 0.80
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