Fool Trader KLSE Research
Daily Summary - 24 Oct 2012
YOUR MORNING COFFEE ' Wednesday 24/10/2012
SUMMARY
Source:Jupiter Securities Research, 24 October 2012
SUMMARY
- Wall St closed 1.8% lower, due to disappointing corporate earnings, and 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 13,102, is on a pullback. Support is at 12,977. RSI of 34, is weakening.
- DOLLAR INDEX is higher at 79.9. Resistance is at 80.4.
- Crude oil is lower at USD86.3. Support is at 82.0.
- Dollar yen is higher at 79.9 yen. Resistance is at 80.2.
- Euro/dollar is lower at 1.297. Resistance is at 1.3400.
- Gold is lower at USD1710. Support is at 1643.
- Shanghai closed lower at 2,114.
- Singapore STI closed higher at 3,052.
- Ringgit is weaker at 3.067. Downside is at 3.09.
- S'pore ringgit is higher at 2504. Upside is at 2.540.
- Malaysian market closed higher at 1664. 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 lower at RM2546. Support is at 2316.
- Trading : KIMLUN ( 5171 : 1.40 ) : Take profit, PELIKAN ( 5231 : 0.74 ) : Targeting 0.84/Stop loss 0.72, TM ( 4863 : 6.07 ) : Targeting 6.40/Stop loss 5.97
Source:Jupiter Securities Research, 24 October 2012
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