Fool Trader KLSE Research
Daily Summary - 2 Aug 2012
YOUR MORNING COFFEE ' Thursday 2/8/2012
SUMMARY
SUMMARY
- Wall St closed 0.2% lower, as US Fed maintained no change to the current policy. Hopes of stimulus measure now rest on the ECB which meets Thursday. US private sector added 163,000 jobs in July, according to ADP.
- Dow of 12,971 is heading for a retest on the previous high of 13,338. Support is at 12,825. RSI of 57, is on the rise.
- DOLLAR INDEX is higher at 83.1. Upside is at 86.2.
- Crude oil is higher at USD88.9. Resistance is at 93.6.
- Dollar yen is higher at 78.4 yen. Support is at 77.9.
- Euro/dollar is lower at 1.223. Upside is at 1.245.
- Gold is lower at USD1600. Upside is at 1740.
- Shanghai closed higher at 2,123
- Singapore STI closed higher at 3,046.
- Ringgit is weaker at 3.129. Downside is at 3.210.
- S'pore ringgit is lower at 2.510. Upside is at 2.540.
- Malaysian market closed higher at 1632. On the Daily chart, it is targeting 1710 over a longer term. Near term pullback support is at 1590-1610. RSI of 60, is up. Today's range is between 1628 and 1638.
- CPO Sep futures is lower at RM2951. Support is at 2924.
- Trading : PADINI ( 7052 : 2.17 ) : Take profit, NAIM ( 5073 : 1.84 ) : Targeting 2.14/Stop loss 1.79, JOHAN ( 3441 : 0.21) : Targeting 0.29/Stop loss 0.19
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