Fool Trader KLSE Research
Daily Summary - 8 June 2012
YOUR MORNING COFFEE ' Friday 8/6/2012
SUMMARY
Source:Jupiter Securities Research 08 June 2012
SUMMARY
- Wall St closed 0.4% higher, following the 25 bp rate cut by China. However the rally fizzled after Bernanke gave no immediate plan for stimulus. Weekly initial jobless claims dipped to 377,000.
- Dow of 12,460 is heading higher to test a resistance at 12,900. RSI of
- 45, is on a positive divergence, indicating a technical rebound.
- DOLLAR INDEX is lower at 82.2. Support is at 81.0.
- Crude oil is lower at USD84.8. Support is at 80.0.
- Dollar yen is higher at 79.6 yen. Upside is at 80.6.
- Euro/dollar is lower at 1.255. Resistance is at 1.278.
- Gold is lower at USD1589. Upside is at 1700.
- Shanghai closed lower at 2,293.
- Singapore STI closed lower at 2,756.
- Ringgit is weaker at 3.172. Downside is at 3.238.
- S'pore ringgit is lower at 2.480. Upside is at 2.481.
- Malaysian market closed higher 1575. On the Daily chart, a technical rebound to test 1591 is likely. RSI of 51, is neutral. Today's range is between 1573 and 1583.
- CPO Aug futures is lower at RM2960. Upside is at 3288.
- Trading : UEMLAND ( 5148 : 1.96 ) : Targeting 2.19/Stop loss 1.90, FITTERS ( 9318 : 0.72 ) : Targeting 0.85/Stop loss 0.69
Source:Jupiter Securities Research 08 June 2012
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