Fool Trader KLSE Research
Daily Summary - 27 July 2012
YOUR MORNING COFFEE ' Friday 27/7/2012
SUMMARY
Source:Jupiter Securities Research 27 July 2012
SUMMARY
- Wall St closed 1.7% higher, following the ECB president's speech that it would take whatever to preserve the euro. This may be a hint that ECB will buy bonds to pull down borrowing costs. Weekly initial jobless claims dipped to 353,000. Durable goods orders rose 1.6%, better than expected.
- Dow of 12,887, has hit a support at 12,521, indicating a limited downside. Resistance is at 13,030. RSI of 56, is neutral.
- DOLLAR INDEX is down at 82.8. Upside is at 86.2.
- Crude oil is higher at USD89.4. Resistance is at 93.6.
- Dollar yen is higher at 78.3 yen. Support is at 77.9.
- Euro/dollar is higher at 1.227. Upside is at 1.245.
- Gold is higher at USD1614. Upside is at 1740.
- Shanghai closed lower at 2,126.
- Singapore STI closed higher at 3,008.
- Ringgit is firmer at 3.158. Downside is at 3.210.
- S'pore ringgit is lower at 2.521. Upside is at 2.540.
- Malaysian market closed lower at 1623. On the Daily chart, it is targeting 1710 over a longer term. Near term pullback support is at 1590-1610. RSI of 55, is weakening. Today's range is between 1620 and 1630.
- CPO Sep futures is lower at RM2914. Support is at 2924.
- Trading : MKLAND ( 8893 : 0.39 ) : Take profit, FABER ( 1368 : 1.47 ) : Buy below 1.45
Source:Jupiter Securities Research 27 July 2012
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