YOUR MORNING COFFEE ' Wednesday 21/11/2012
SUMMARY
Wall St closed 0.06% lower, led by a sharp sell off in HP, worries over Europe and the fiscal cliff. Housing starts rose to the highest level in 4 years. Market closed on Thursday for Thanksgiving.
Dow of 12,788, is heading for a test on the 13,290 resistance. RSI of 40, is recovering.
DOLLAR INDEX is higher at 80.9. Support is at 80.2.
Crude oil is lower at USD86.3. Resistance is at 93.0.
Dollar yen is higher at 81.8 yen. Resistance is at 81.8.
Euro/dollar is higher at 1.281. Support is at 1.2700.
Gold is lower at USD1727. Support is at 1643.
Shanghai closed lower at 2,008.
Singapore STI closed higher at 2,958.
Ringgit is firmer at 3.060. Downside is at 3.09.
S'pore ringgit is lower at 2.498. Upside is at 2.540.
Malaysian market closed higher at 1624. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1620. RSI of 29, is oversold. Today's range is between 1622 and 1632.
CPO Jan futures is lower at RM2424. Resistance is at 2630.
Trading : AIRPORT ( 5014 : 5.73 ) : Targeting 6.10/Stop loss 5.65, MPHB ( 3859 : 3.74 ) : Take profit, PERDANA ( 7108 : 0.99 ) : Targeting 1.15/Stop loss 0.94
Source:Jupiter Securities Research, 21 November 2012