Daily Summary - 8 Mar 2012

YOUR MORNING COFFEE – Thursday 8/3/2012

SUMMARY
· Wall St closed 0.7% higher, due to positive data. Private sector added 216,000 jobs in February, according to ADP. Consumer credit rose by USD17.8bln in January. There is the employment figure this Friday.
· Dow of 12,837, is targeting 13,279. Previous high is 14,198. RSI of 49, is on a small 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 79.7. Resistance is at 80.3.
· Crude oil is higher at USD106.1. Support is at 101.0.
· Dollar yen is higher at 81.2 yen. Support is at 78.9.
· Euro/dollar is higher at 1.314. Support is at 1.297.
· Gold is higher at USD1683. Downside is at 1625.
· Shanghai closed lower at 2,394.
· Singapore STI closed lower at 2,914.
· Ringgit is firmer at 3.027. Support is at 3.110.
· S’pore ringgit is higher at 2.401. Resistance is at 2.430
· Malaysian market closed lower at 1574. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1566. RSI of 62, is weakening. Today’s range is between 1570 and 1580.
· CPO April futures is higher at RM3252. Support is at 3023.
· Trading : HWGB ( 9601 : 0.46 ) : Targeting 0.54, PUNCAK ( 6807 : 1.43 ) : Stop loss 1.39, KEYWEST ( 0095 : 0.20 ) : Targeting 0.25, SILVER ( 7136 : 0.22 ) : Targeting 0.28

Source:Jupiter Securities Research 08 March 2012