YOUR MORNING COFFEE – Thursday 22/3/2012
SUMMARY
· Wall St closed 0.3% lower, due to poor housing data. There was a 0.9% dip in existing home sales in February.
· Dow of 13,124, is capped at 13,270, indicating a small pullback. RSI of 59, has turned down. Caution is on the key support 12,970, which will be negative if breached.
· Dollar Index is unchanged at 79.5. Downside is at 79.1.
· Crude oil is higher at USD107.2. Support is at 103.0.
· Dollar yen is lower at 83.2 yen. Support is at 81.9.
· Euro/dollar is lower at 1.321. Support is at 1.292.
· Gold is higher at USD1650. Downside is at 1625.
· Shanghai closed higher at 2,378.
· Singapore STI closed higher at 3,005.
· Ringgit is weaker at 3.081. Downside is at 3.110.
· S’pore ringgit is higher at 2.437. Resistance is at 2.440
· Malaysian market closed higher at 1582. On the Daily chart, it broke the 200 MA of 1506, indicating a further upward push to 1609. Support is at 1550. RSI of 60, is neutral. Today’s range is between 1576 and 1586.
· CPO May futures is higher at RM3374. Support is at 3300.
· Trading : GREENYB ( 0136 : 0.27 ) : Targeting 0.30, PJI ( 7122 : 0.17 ) : Consolidation breakout, INGENS ( 0034 : 0.13 ) : Targeting 0.19, YTLPOWR ( 6742 : 1.83 ) : Targeting 2.06
Source:Jupiter Securities Research 22 March 2012
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