Fool Trader KLSE Research
Daily Summary - 23 Oct 2012
YOUR MORNING COFFEE ' Tuesday 23/10/2012
SUMMARY
Source:Jupiter Securities Research, 23 October 2012
SUMMARY
- Wall St closed 0.02% higher, on bargain hunting. Market is likely to remain neutral ahead of this week's FOMC, which is likely to be a non event. Focus is on the following FOMC in December, which may provide direction on US Fed's measures.
- Dow of 13,345, has completed its pullback at the 61.8% retracement
- level of 13,235. Upside is at 13,500. RSI of 44, is on a divergence.
- DOLLAR INDEX is lower at 79.5. Resistance is at 80.2.
- Crude oil is lower at USD88.7. Support is at 88.0.
- Dollar yen is higher at 79.9 yen. Resistance is at 80.2.
- Euro/dollar is higher at 1.306. Resistance is at 1.3400.
- Gold is higher at USD1728. Support is at 1700.
- Shanghai closed higher at 2,132.
- Singapore STI closed lower at 3,047.
- Ringgit is firmer at 3.0480. Downside is at 3.09.
- S'pore ringgit is lower at 2.496. Upside is at 2.540.
- Malaysian market closed lower at 1661. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1660. RSI of 61, is on a buy divergence. Today's range is between 1660 and 1670.
- CPO Jan futures is higher at RM2511. Support is at 2316.
- Trading : FABER ( 1368 : 1.49 ) : Take profit, MEGB ( 5166 : 0.73 ) : Take profit, ORNA ( 5065 : 0.75 ) : Targeting 0.86/Stop loss 0.71,
Source:Jupiter Securities Research, 23 October 2012
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