YOUR MORNING COFFEE ' Wednesday 5/12/2012
SUMMARYWall St closed 0.1% lower, drifting, as focus remains on the fiscal cliff. Dow of 12,951, is heading for a test on the overhead resistance of 13,290. RSI of 48, is slightly weak.
DOLLAR INDEX is lower at 79.6. Support is at 79.3.
Crude oil is lower at USD88.5. Resistance is at 93.0.
Dollar yen is lower at 81.8 yen. Support is at 81.0.
Euro/dollar is higher at 1.309. Resistance is at 1.312.
Gold is lower at USD1695. Support is at 1643.
Shanghai closed higher at 1975.
Singapore STI closed lower at 3,062.
Ringgit is firmer at 3.042. Downside is at 3.09.
S'pore ringgit is lower at 2.497. Upside is at 2.540.
Malaysian market closed higher at 1607. On the Daily chart, the oversold RSI of 31, 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 RM2294. Support is at 2275.
Trading : KBB (7182 : 0.49 ) : Take profit, KULIM (2003 : 4.50 ) : Targeting 4.86/Stop loss 4.36, FABER (1368 : 1.36 ) : Targeting 1.50/Stop loss 1.32
THHEAVY (7206 : 0.51 ) : Targeting 0.57/Stop loss 0.48
Source:Jupiter Securities Research, 05 December 2012