YOUR MORNING COFFEE – Tuesday 13/3/2012
SUMMARY
Wall St closed 0.3% higher, ahead of the US FOMC tonight, which is expected to leave rates unchanged. China reported huge trade deficits of USD31.5bln in February.
Dow of 12,959, is targeting 13,279. Previous high is 14,198. RSI of 57, is on a spike up, indicating a likely retest on the 13,000 level. Caution is on the key support 12,670, which will be negative if breached.
Dollar Index is lower at 79.8. Upside is at 81.0.
Crude oil is lower at USD106.3. Support is at 101.0.
Dollar yen is higher at 82.4 yen. Resistance is at 83.1.
Euro/dollar is higher at 1.315. Support is at 1.297.
Gold is lower at USD1699. Downside is at 1625.
Shanghai closed lower at 2,434.
Singapore STI closed higher at 2,966.
Ringgit is weaker at 3.026. Support is at 3.110.
S’pore ringgit is lower at 2.396. Resistance is at 2.430
Malaysian market closed lower at 1564. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1550. RSI of 52, is weakening. Today’s range is between 1560 and 1574.
CPO April futures is higher at RM3357. Resistance is at 3384.
Trading : TENAGA ( 5347 : 6.42 ) : Targeting 6.84, SKPRES ( 7155 : 0.54 ) : Targeting 0.63, NWP ( 5025 : 0.24 ) : Targeting 0.35, UEMLAND ( 5148 : 2.26 ) : Targeting 2.47
Source:Jupiter Securities Research 13 March 2012
No comments:
Post a Comment