Fool Trader KLSE Research
Daily Summary - 14 June 2012
YOUR MORNING COFFEE ' Thursday 14/6/2012
SUMMARY
- Wall St closed 0.6% lower, ahead of the Greek election Sunday, and reacting to the continuing drop in oil prices. Retail sales in May dipped 0.2%. Wholesale inflation, or producer price index dropped 1% in May.
- However, business inventories rose 0.4%.
- Dow of 12,496 is heading higher to test a resistance at 12,900. RSI of 48, is on a positive divergence, indicating a technical rebound.
- DOLLAR INDEX is lower at 82.0. Support is at 80.9.
- Crude oil is lower at USD82.6. Support is at 80.0.
- Dollar yen is lower at 79.4 yen. Upside is at 80.6.
- Euro/dollar is higher at 1.257. Resistance is at 1.283.
- Gold is higher at USD1616. Upside is at 1740.
- Shanghai closed higher at 2,318.
- Singapore STI closed lower at 2,787.
- Ringgit is weaker at 3.180. Downside is at 3.238.
- S'pore ringgit is lower at 2.475. Upside is at 2.520.
- Malaysian market closed unchanged 1576. On the Daily chart, it is expected to breach the Double top of 1582, to target 1591. Pullback support is at 1568. RSI of 54, remains positive. Today's range is between 1573 and 1583.
- CPO Aug futures is lower at RM2955. Upside is at 3288.
- Trading : MUHIBAH ( 5703 : 1.21 ) : Targeting 1.34/Stop loss 1.18, ENG ( 8826 : 1.95 ) : Targeting 2.12/Stop loss 1.91, MPHB (3859 : 3.44) : Stop loss raised to 3.38, from 3.10, UMW ( 4588 : 8.32 ) : Stop loss raised to 8.22, from 7.90
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