YOUR MORNING COFFEE – Friday 24/2/2012
Brought to you by Jupiter Securities Research
SUMMARY
· Wall St closed 0.36% higher, following good jobs number, and thefourth month of rising German business conditions. The US weekly initial jobless claims rose to 351,000, better than expected.
· Dow of 12,984, is targeting 13,279. Previous high is 14,198. Cautionis on the key support 12,670, which will be negative if breached. RSI of 66, remains positive.
· Dollar Index is lower at 78.6. Support is at 77.9.
· Crude oil is higher at USD107.4. Resistance is at 114.0.
· Dollar yen is lower at 79.9 yen. Resistance is at 81.7.
· Euro/dollar is higher at 1.336. Resistance is at 1.354.
· Gold is higher at USD1786. Upside is capped at 1827.
· Shanghai closed higher at 2,409.
· Singapore STI closed lower at 2,965.
· Ringgit is firmer at 3.014. Downside is at 3.110.
· S’pore ringgit is lower at 2.408.
· Malaysian market closed lower at 1556. On the Daily chart, it broke the 200 MA of 1501, indicating a further upward push to 1576. Support is at 1556. RSI of 61, is weakening. Today’s range is between 1553 and 1563.
· CPO April futures is lower at RM3238. Support is at 3023.
· Trading : PADINI ( 7052 : 1.35 ) : Take profit
ORIENT ( 4006 : 6.32 ) : Targeting 6.47
UOADEV ( 5200 : 1.50 ) : Targeting 1.60
AIRASIA ( 5099 : 3.58 ) : Take profit
Source:Jupiter Securities Research 24 Febuary 2012
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