YOUR MORNING COFFEE ' Friday 30/11/2012
SUMMARYWall St closed 0.3% higher due to improving economy. Focus remains on the fiscal cliff. Weekly initial jobless claims dipped to 393,000. US 3Q'2012 GDP grew 2.7%. Pending home sales jumped 5.2%.
Dow of 13,021, is heading for a test on the overhead resistance of 13,290. RSI of 52, is recovering.
DOLLAR INDEX is lower at 80.2. Support is at 79.6.
Crude oil is higher at USD88.0. Resistance is at 93.0.
Dollar yen is higher at 82.1 yen. Support is at 81.0.
Euro/dollar is higher at 1.297. Resistance is at 1.302.
Gold is higher at USD1725. Support is at 1643.
Shanghai closed lower at 1963.
Singapore STI closed higher at 3,045.
Ringgit is firmer at 3.048. Downside is at 3.09.
S'pore ringgit is lower at 2.494. Upside is at 2.540.
Malaysian market closed higher at 1607. On the Daily chart, the oversold RSI of 29, points to a likely technical rebound to test the overhead resistance of 1644. Support is at 1595. Today's range is between 1604 and 1614.
CPO Feb futures is lower at RM2386. Support is at 2344.
Trading : AXIATA (6888 : 5.92 ) : Take profit, BENALEC (5190 : 1.29 ) : Buy below 1.25, POS (4634 : 3.12 ) : Take profit
Source:Jupiter Securities Research, 30 November 2012