Fool Trader KLSE Research

Daily Summary - 24 Aug 2012

fooltrader
Publish date: Fri, 24 Aug 2012, 08:50 AM
YOUR MORNING COFFEE ' Friday 24/8/2012

SUMMARY

  • Wall St closed 0.9% lower, on worries over global slowdown. Manufacturing hit a 9 month low in China, and contracted in the eurozone for the 7th month. Weekly initial jobless claims rose to 372,000. New home sales rose 3.6% in July.
  • Dow of 13,057, may stage a technical rebound following the past 3 days of drop. Support is at 13,000. RSI of 49, is on a pullback.
  • DOLLAR INDEX is lower at 81.4. Downside is at 81.0.
  • Crude oil is lower at USD95.9. Resistance is at 100.0.
  • Dollar yen is lower at 78.5 yen. Support is at 77.4.
  • Euro/dollar is higher at 1.256. Upside is at 1.262.
  • Gold is higher at USD1668. Upside is at 1740.
  • Shanghai closed higher at 2,113.
  • Singapore STI closed higher at 3,061.
  • Ringgit is firmer at 3.095. Downside is at 3.210.
  • S'pore ringgit is lower at 2.482. Upside is at 2.540.
  • Malaysian market closed lower at 1651. On the Daily chart, it is targeting 1710 over a longer term. Near term pullback support is at 1644. RSI of 66, is up. Today's range is between 1646 and 1656.
  • CPO Oct futures is lower at RM3040. Resistance is at 3066.
  • Trading : TM ( 4863 : 5.98 ) : Take profit, CENBOND ( 7171 : 1.06 ) : Targeting 1.38/Stop loss 1.02, DELEUM ( 5132 : 1.90 ) : Targeting 2.10/Stop loss 1.84
  • ILB ( 5614 : 0.94 ) : Targeting 1.05/Stop loss 0.90

Source:Jupiter Securities Research 24 August 2012

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