YOUR MORNING COFFEE ' Wednesday 26/9/2012
SUMMARYWall St closed 0.7% lower over worries about global growth, despite positive housing figures. S&P Case-Shiller index showed that home prices rose for the third month.
Dow of 13,457, is slightly weak. Support is at 13,400. RSI of 58, is weakening.
DOLLAR INDEX is higher at 79.7. Resistance is at 80.5.
Crude oil is lower at USD91.0. Support is at 87.0.
Dollar yen is lower at 77.7 yen. Support is at 77.6.
Euro/dollar is lower at 1.290. Resistance is at 1.320.
Gold is lower at USD1761. Support is at 1684.
Shanghai closed lower at 2,029.
Singapore STI closed higher at 3,071.
Ringgit is weaker at 3.073. Downside is at 3.09.
S'pore ringgit is lower at 2.500. Upside is at 2.540.
Malaysian market closed higher at 1618. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1618. RSI of 42, is on a buy divergence. Today's range is between 1614 and 1624.
CPO Dec futures is higher at RM2664. Support is at 2600.
Trading : SCOMI ( 7158 : 0.38 ) : Take profit, PCHEM ( 5183 : 6.40 ) : Targeting 6.71/Stop loss 6.21
Source:Jupiter Securities Research, 26 September 2012