YOUR MORNING COFFEE ' Friday 21/9/2012
SUMMARY
Wall St closed 0.14% higher, a pause following the recent US Fed's QE3. HSBC reported that manufacturing in China continued to contract for the 11th month. Weekly US initial jobless claims dipped to 382,000.
Dow of 13,596, is on a technical rebound. Resistance is at 13,924. RSI of 69, is overbought.
DOLLAR INDEX is higher at 79.4. Support is at 78.4.
Crude oil is lower at USD91.8. Support is at 87.0.
Dollar yen is lower at 78.3 yen. Support is at 77.6.
Euro/dollar is lower at 1.297. Resistance is at 1.320.
Gold is lower at USD1770. Support is at 1684.
Shanghai closed lower at 2,024.
Singapore STI closed lower at 3,064.
Ringgit is weaker at 3.057. Downside is at 3.09.
S'pore ringgit is higher at 2.501. Upside is at 2.540.
Malaysian market closed lower at 1625. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1618. RSI of 43, is on a buy divergence. Today's range is between 1622 and 1632.
CPO Nov futures is lower at RM2781. Support is at 2700.
Trading : FAVCO ( 7229 : 1.80 ) : Take profit, POHKONG ( 5080 : 0.51 ) : Buy below 0.50
Source:Jupiter Securities Research, 21 September 2012