Fool Trader KLSE Research
Daily Summary - 1 June 2012
YOUR MORNING COFFEE ' Friday 1/6/2012
SUMMARY
Source:Jupiter Securities Research 01 June 2012
SUMMARY
- Wall St closed 0.2% lower, on concerns over the health of Spanish banks, and the European debt crisis. Weekly initial jobless claims rose to 383,000. Chicago PMI, a measure of regional activity, dipped to 52.7. Focus is on this Friday's job number, which is expected to show 155,000 jobs added in May.
- Dow of 12,393 is on a technical rebound due to the oversold technicals. It has bottomed out at 12,311. RSI of 34, is rising. Upside is at 12,940.
- DOLLAR INDEX is higher at 83.1. Resistance is at 85.0.
- Crude oil is lower at USD86.5. Support is at 84.0.
- Dollar yen is lower at 78.5 yen. Upside is at 81.2.
- Euro/dollar is lower at 1.235. Support is at 1.220.
- Gold is lower at USD1558. Upside is at 1700.
- Shanghai closed lower at 2,372.
- Singapore STI closed lower at 2,777.
- Ringgit is weaker at 3.186. Downside is at 3.200.
- S'pore ringgit is higher at 2.473. Upside is at 2.481.
- Malaysian market closed higher 1580. On the Daily chart, it is in for a technical rebound to 1590, due to the oversold technicals. RSI of 57, has started to recover. Stochastic has started to turn upwards. Today's range is between 1575 and 1585.
- CPO Aug futures is lower at RM3099. Upside is at 3288.
- Trading : YINSON ( 7293 : 2.00 ) : Targeting 2.20/Stop loss 1.90, L&G ( 3174 : 0.34 ) : Targeting 0.39/Stop loss 0.31, COASTAL ( 5071 : 1.76 ) : Targeting 2.00/Stop loss 1.62, TM ( 4863 : 5.40 ) : Targeting 5.70/Stop loss 5.30
Source:Jupiter Securities Research 01 June 2012
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