YOUR MORNING COFFEE ' Monday 29/10/2012

SUMMARY

Wall St closed 0.03% higher, as traders remained sidelines due to lacklustre corporate results, and ahead of US Presidential election. Economic data were better than expected. Weekly initial jobless claims dipped to 369,000. US 3Q'2012 GDP growth of 2%, was better than the estimate 1.7%.
Dow of 13,107, is on a pullback. Support is at 12,977. RSI of 35, is approaching oversold.
DOLLAR INDEX is higher at 80.1. Resistance is at 80.4.
Crude oil is higher at USD86.3. Support is at 82.0.
Dollar yen is lower at 79.6 yen. Resistance is at 80.2.
Euro/dollar is lower at 1.293. Support is at 1.2840.
Gold is higher at USD1715. Support is at 1643.
Shanghai closed lower at 2,066.
Singapore STI closed higher at 3,057.
Ringgit is firmer at 3.045. Downside is at 3.09.
S'pore ringgit is lower at 2.491. Upside is at 2.540.
Malaysian market closed higher at 1671. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1660. RSI of 65, is on a buy divergence. Today's range is between 1667 and 1677.
CPO Jan futures is higher at RM2603. Support is at 2316.
Trading : MRCB ( 1651 : 1.74 ) : Take profit, MALTON ( 6181 : 0.54 ) : Targeting 0.60/Stop loss 0.52, JAKS ( 4723 : 0.37 ) : Targeting 0.44/Stop loss 0.36

Source:Jupiter Securities Research,29 October 2012