YOUR MORNING COFFEE ' Friday 28/9/2012
SUMMARYWall St closed 0.5% higher after Spain released its 2012 Budget, signalling the willingness to move forward. Weekly initial jobless claims dipped to 359,000, the lowest since July.
Dow of 13,485, is slightly weak. Support is at 13,400. RSI of 58, is neutral.
DOLLAR INDEX is lower at 79.6. Resistance is at 80.5.
Crude oil is higher at USD91.8. Resistance is at 96.0.
Dollar yen is lower at 77.6 yen. Support is at 77.6.
Euro/dollar is higher at 1.291. Resistance is at 1.320.
Gold is higher at USD1776. Support is at 1720.
Shanghai closed higher at 2,056.
Singapore STI closed higher at 3,060.
Ringgit is firmer at 3.069. Downside is at 3.09.
S'pore ringgit is higher at 2.503. Upside is at 2.540.
Malaysian market closed higher at 1627. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1620. RSI of 48, is on a buy divergence. Today's range is between 1624 and 1634.
CPO Dec futures is lower at RM2594. Support is at 2569.
Trading : HARTA ( 5168 : 4.35 ) : Targeting 4.70/Stop loss 4.20, IJM ( 3335 : 4.73 ) : Targeting 5.00/Stop loss 4.62,
Source:Jupiter Securities Research, 28 September 2012