Daily Summary - 20 Mar 2012

YOUR MORNING COFFEE – Tuesday 20/3/2012

SUMMARY
· Wall St closed 0.05% higher, boosted by Apple’s dividend and share buyback announcement, otherwise, there was not much news. This week, the focus is likely on housing. While employment has picked up, home prices remain at a decade low.
· Dow of 13,239, is targeting 13,279. Previous high is 14,198. RSI of 69, is on a spike up. Caution is on the key support 12,970, which will be negative if breached.
· Dollar Index is lower at 79.4. Downside is at 79.1.
· Crude oil is higher at USD108.0. Resistance is at 114.0.
· Dollar yen is lower at 83.3 yen. Resistance is at 85.6.
· Euro/dollar is higher at 1.324. Support is at 1.292.
· Gold is higher at USD1667. Downside is at 1625.
· Shanghai closed higher at 2,410.
· Singapore STI closed lower at 2,990.
· Ringgit is firmer at 3.049. Downside is at 3.110.
· S’pore ringgit is higher at 2.428. Resistance is at 2.440
· Malaysian market closed higher at 1573. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1550. RSI of 55, is neutral. Today’s range is between
1570 and 1580.
· CPO May futures is lower at RM3368. Support is at 3300.
· Trading : PUNCAK ( 6807 : 1.51 ) : Technical rebound, SOZO ( 5187 : 0.59 ) : Consolidation breakout, TA ( 4898 : 0.60 ) : Technical rebound, JAKS ( 4723 : 0.58 ) : Double bottom

 Source:Jupiter Securities Research 20 March 2012