YOUR MORNING COFFEE ' Wednesday 20/6/2012
SUMMARY
Wall St closed 0.7 higher on expectation of US Fed Wednesday announcing some stimulus measures. In Greece, the pro-bailout parties, New Democracy and Pasok parties, led the election. Building permits rose at an annual rate of 780,000, the fastest pace since Sept 2008.
Dow of 12,837 is heading higher to test a resistance at 13,100. RSI of 59, is on a positive divergence, indicating a technical rebound.
DOLLAR INDEX is lower at 81.4. Resistance is at 82.7.
Crude oil is higher at USD84.0. Upside is at 90.0.
Dollar yen is higher at 79.1 yen. Upside is at 80.6.
Euro/dollar is higher at 1.268. Resistance is at 1.283.
Gold is lower at USD1620. Upside is at 1740.
Shanghai closed lower at 2,300.
Singapore STI closed higher at 2,840.
Ringgit is firmer at 3.150. Downside is at 3.238.
S'pore ringgit is higher at 2.489. Upside is at 2.520.
Malaysian market closed higher 1594. On the Daily chart, it is targeting 1604. Pullback support is at 1586. RSI of 62, remains positive. Today's range is between 1590 and 1600.
CPO Aug futures is higher at RM2915. Downside is at 2770.
Trading : OLDTOWN ( 5201 : 1.71 ) : Take profit L&G ( 3174 : 0.39 ) : Take profit, BSTEAD ( 2771 : 5.37 ) : Take profit
Source:Jupiter Securities Research 20 June 2012