Fool Trader KLSE Research
Daily Summary - 7 Sep 2012
YOUR MORNING COFFEE ' Friday 7/9/2012
SUMMARY
SUMMARY
- Wall St closed 1.8% higher, due to the ECB's decision to do whatever it takes to protect the euro, and the bond buying program to boost the economy. US weekly initial jobless claims dipped to 365,000. US, this Friday, is expected to announce 120,000 new jobs added in August.
- Dow of 13,292, is on a technical rebound. Resistance is at 13,338. RSI of 61, is steady.
- DOLLAR INDEX is lower at 81.1. Resistance is at 82.9.
- Crude oil is higher at USD95.5. Resistance is at 100.0.
- Dollar yen is higher at 78.9 yen. Support is at 77.4.
- Euro/dollar is higher at 1.264. Upside is at 1.262.
- Gold is higher at USD1696. Upside is at 1740.
- Shanghai closed higher at 2,051.
- Singapore STI closed lower at 2,988.
- Ringgit is firmer at 3.107. Downside is at 3.210.
- S'pore ringgit is higher at 2.499. Upside is at 2.540.
- Malaysian market closed lower at 1617. On the Daily chart, it is targeting 1710 over a longer term. Near term pullback support is at 1612. RSI of 32, is approaching oversold. Today's range is between 1614 and 1630.
- CPO Nov futures is lower at RM2938. Resistance is at 3270.
- Trading : GENM ( 4715 : 3.52 ) : Take profit, GAMUDA ( 5398 : 3.41 ) : Targeting 3.80/Stop loss 3.30, KNM ( 7164 : 0.655 ) : Targeting 0.72/Stop loss 0.63
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