Daily Summary - 15 Mar 2012

YOUR MORNING COFFEE – Thursday 15/3/2012

SUMMARY
· Wall St closed 0.1% higher, a pause after the upkick of the previous day. US Fed said that most banks would be able to weather another recession hit except for 4 banks. Technology stocks rose due to upbeat
outlook. China said that it will not ease the housing curbs.
· Dow of 13,194, is targeting 13,279. Previous high is 14,198. RSI of 68, is on a spike up. Caution is on the key support 12,970, which will be negative if breached.
· Dollar Index is higher at 80.6. Upside is at 81.0.
· Crude oil is lower at USD105.4. Support is at 101.0.
· Dollar yen is higher at 83.7 yen. Resistance is at 85.6.
· Euro/dollar is lower at 1.303. Support is at 1.292.
· Gold is lower at USD1642. Downside is at 1625.
· Shanghai closed lower at 2,391.
· Singapore STI closed higher at 3,026.
· Ringgit is weaker at 3.065. Downside is at 3.110.
· S’pore ringgit is higher at 2.415. Resistance is at 2.430
· Malaysian market closed higher at 1575. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1550. RSI of 58, is neutral. Today’s range is between
1570 and 1582.
· CPO April futures is higher at RM3380. Resistance is at 3400.
· Trading : FFHB ( 8605 : 0.17 ) : Stop loss 0.15, POHUAT ( 7088 : 0.41 ) : Stop loss 0.395, WONG ( 7050 : 0.33 ) : Targeting 0.46, HWATAI ( 8478 : 0.64 ) : Stop loss 0.58


Source:Jupiter Securities Research 15 March 2012