Fool Trader KLSE Research
Daily Summary - 31 May 2012
YOUR MORNING COFFEE ' Thursday 31/5/2012
Source:Jupiter Securities Research 31 May 2012
SUMMARY
- Wall St closed 1.3% lower, on concerns over the health of Spanish banks, and the European debt crisis. Focus is on this Friday's job number, which is expected to show 155,000 jobs added in May.
- Dow of 12,419 is on a technical rebound due to the oversold technicals. It has bottomed out at 12,311. RSI of 35, is rising. Upside is at 12,940.
- DOLLAR INDEX is higher at 83.0. Resistance is at 85.0.
- Crude oil is lower at USD87.8. Support is at 84.0.
- Dollar yen is lower at 79.0 yen. Upside is at 81.2.
- Euro/dollar is lower at 1.237. Support is at 1.220.
- Gold is higher at USD1564. Upside is at 1700.
- Shanghai closed lower at 2,384.
- Singapore STI closed lower at 2,790.
- Ringgit is weaker at 3.185. Downside is at 3.200.
- S'pore ringgit is higher at 2.469. Upside is at 2.481.
- Malaysian market closed higher 1575. On the Daily chart, it is in for a technical rebound to 1590, due to the oversold technicals. RSI of 52, has started to recover. Stochastic has started to turn upwards. Today's range is between 1570 and 1580.
- CPO July futures is lower at RM3130. Support is at 3000.
- Trading : MAS ( 3786 : 1.16 ) : Targeting 1.30/Stop loss 1.08, PUNCAK ( 6807 : 1.35 ) : Targeting 1.57/Stop loss 1.30, GENM ( 4715 : 3.84 ) : Take profit
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