Daily Summary - 7 Mar 2012

YOUR MORNING COFFEE – Wednesday 7/3/2012

SUMMARY
· Wall St closed 1.5% lower, due to rising yields on European bonds, and 0.3% growth contraction of the Q’2011 in Europe. And there is also the employment figure Friday.
· Dow of 12,759, is targeting 13,279. Previous high is 14,198. RSI of 44, is weakening. Caution is on the key support 12,670, which will be negative if breached.
· Dollar Index is higher at 79.8. Resistance is at 80.3.
· Crude oil is lower at USD104.7. Support is at 101.0.
· Dollar yen is lower at 80.8 yen. Support is at 78.9.
· Euro/dollar is lower at 1.311. Support is at 1.297.
· Gold is lower at USD1672. Downside is at 1625.
· Shanghai closed lower at 2,410.
· Singapore STI closed lower at 2,933.
· Ringgit is weaker at 3.036. Support is at 3.110.
· S’pore ringgit is lower at 2.393. Support is at 2.370
· Malaysian market closed higher at 1589. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1579. RSI of 74, is overbought. Today’s range is between 1580 and 1590.
· CPO April futures is higher at RM3252. Support is at 3023.
· Trading : TECFAST ( 0084 : 0.145 ) : Targeting 0.16, PADINI ( 7052 : 1.48 ) : Stop loss 1.35, MUDAJYA ( 5085 : 2.94 ) : Targeting 3.22, GOCEAN ( 0074 : 0.305 ) : Targeting 0.42

Source: Jupiter Securities Research 7 March 2012