Fool Trader KLSE Research
Daily Summary - 12 Sept 2012
YOUR MORNING COFFEE ' Wednesday 12/9/2012
SUMMARY
Source:Jupiter Securities Research 12 September 2012
SUMMARY
- Wall St closed 0.5% higher ahead of a decision by the German Constitutional court Wednesday which could impact on the ECB's plans to preserve the euro. Then there is the bet on QE3 or quantitative easing move by US Fed Thursday. US trade deficit of USD42bln in July.
- Dow of 13,323, is on a technical rebound. Resistance is at 13,470. RSI of 61, is steady.
- DOLLAR INDEX is lower at 79.9. Support is at 79.4.
- Crude oil is higher at USD97.1. Resistance is at 100.0.
- Dollar yen is lower at 77.8 yen. Support is at 77.4.
- Euro/dollar is higher at 1.285. Upside is at 1.300.
- Gold is higher at USD1733. Resistance is at 1790.
- Shanghai closed lower at 2,120.
- Singapore STI closed higher at 3,016.
- Ringgit is firmer at 3.085. Downside is at 3.210.
- S'pore ringgit is higher at 2.508. Upside is at 2.540.
- Malaysian market closed lower at 1614. On the Daily chart, it is targeting 1710 over a longer term. Near term pullback support is at 1612. RSI of 33, is oversold. Today's range is between 1609 and 1622.
- CPO Nov futures is lower at RM2899. Resistance is at 3270.
- Trading : FITTERS ( 9318 : 0.695 ) : Targeting 0.76/Stop loss 0.68, PERWAJA ( 5146 : 0.595 ) : Targeting 0.66/Stop loss 0.575, INCKEN ( 2607 : 0615 ) : Targeting 0.68/Stop loss 0.595
Source:Jupiter Securities Research 12 September 2012
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