YOUR MORNING COFFEE ' Tuesday 30/10/2012
SUMMARY
Wall St closed as hurricane Sandy approaches New York, which has declared a state of emergency. Personal spending rose 0.8% in September, higher than expected. Traders remain sidelines due to lacklustre corporate results, and ahead of US Presidential election, 6 November.
Dow of 13,107, is on a pullback. Support is at 12,977. RSI of 35, is approaching oversold.
DOLLAR INDEX is higher at 80.2. Resistance is at 80.4.
Crude oil is lower at USD85.5. Support is at 82.0.
Dollar yen is higher at 79.7 yen. Resistance is at 80.2.
Euro/dollar is lower at 1.290. Support is at 1.2840.
Gold is lower at USD1707. Support is at 1643.
Shanghai closed lower at 2,058.
Singapore STI closed lower at 3,033.
Ringgit is weaker at 3.059. Downside is at 3.09.
S'pore ringgit is higher at 2.505. Upside is at 2.540.
Malaysian market closed higher at 1672. 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 1670 and 1676.
CPO Jan futures is lower at RM2540. Support is at 2430.
Trading : GPACKET ( 0082 : 0.64 ) : Take profit, RSAWIT ( 5113 : 0.97 ) : Take profit, ARANK ( 7214 : 0.56 ) : Take profit, PERDANA ( 7108 : 1.00 ) : Take profit
Source:Jupiter Securities Research,30 October 2012