Fool Trader KLSE Research
Daily Summary - 3 Aug 2012
YOUR MORNING COFFEE ' Friday 3/8/2012
SUMMARY
SUMMARY
- Wall St closed 0.7 % lower, disappointed by the lack of concrete measures from the ECB. Focus is on the employment figure Friday, which is expected to show 365,000 new jobs added in July. Weekly initial jobless claims rose to 95,000. Factory orders dipped 0.5%.
- Dow of 12,878 is heading for a retest on the previous high of 13,338.
- Support is at 12,750. RSI of 52, is neutral.
- DOLLAR INDEX is higher at 83.3. Upside is at 86.2.
- Crude oil is lower at USD87.1. Resistance is at 93.6.
- Dollar yen is higher at 78.1 yen. Support is at 77.9.
- Euro/dollar is lower at 1.218. Upside is at 1.245.
- Gold is lower at USD1589. Upside is at 1740.
- Shanghai closed lower at 2,111
- Singapore STI closed lower at 3,037.
- Ringgit is weaker at 3.140. Downside is at 3.210.
- S'pore ringgit is lower at 2.513. Upside is at 2.540.
- Malaysian market closed higher at 1633. 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 Oct futures is lower at RM2924. Resistance is at 3066.
- Trading : UOADEV ( 5200 : 1.69 ) : Targeting 1.88/Stop loss 1.64, KFIMA ( 6491 : 2.42 ) : Targeting 2.60/Stop loss 2.34, MNRB ( 6459 : 3.05 ) : Targeting 3.27/Stop loss 2.94
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