YOUR MORNING COFFEE ' Monday 26/11/2012
SUMMARYWall St closed 1.3% higher, cheered by the droves of shoppers in the holiday season of Thanksgiving. Worries over Europe and the fiscal cliff remain.
Dow of 13,009, is heading for a test on the 13,290 resistance. RSI of 51, is recovering.
DOLLAR INDEX is lower at 80.2. Support is at 79.6.
Crude oil is higher at USD88.2. Resistance is at 93.0.
Dollar yen is higher at 82.5 yen. Resistance is at 83.4.
Euro/dollar is higher at 1.297. Resistance is at 1.302.
Gold is higher at USD1750. Support is at 1643.
Shanghai closed higher at 2,027.
Singapore STI closed higher at 2,989.
Ringgit is firmer at 3.049. Downside is at 3.09.
S'pore ringgit is lower at 2.495. Upside is at 2.540.
Malaysian market closed lower at 1614. On the Daily chart, the oversold RSI of 23, points to a limited downside, and a likely technical rebound to test the overhead resistance of 1644. Today's range is between 1612 and 1622.
CPO Feb futures is lower at RM2395. Support is at 2344.
Trading : MBFHLDG ( 1236 : 1.25 ) : Targeting 1.36/Stop loss 1.18, BRIGHT ( 9938 : 1.70 ) : Targeting 1.94/Stop loss 1.64
Source:Jupiter Securities Research, 26 November 2012