SUMMARY
- Wall St closed 0.5% higher, as private bond holders are on the verge of accepting a debt swap agreement for Greece. Latest indication points to 85% acceptance. Weekly initial jobless claims rose to 362,000, higher than expected. There is the employment figure this Friday, which is expected to show 210,000 jobs added in February.
- Dow of 12,907, is targeting 13,279. Previous high is 14,198. RSI of 54, is on a 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 79.1. Downside is at 78.7.
- Crude oil is higher at USD106.5. Support is at 101.0.
- Dollar yen is higher at 81.5 yen. Support is at 78.9.
- Euro/dollar is higher at 1.326. Support is at 1.297.
- Gold is higher at USD1683. Downside is at 1625.
- Shanghai closed higher at 2,420.
- Singapore STI closed higher at 2,966.
- Ringgit is firmer at 3.007. Support is at 3.110.
- S’pore ringgit is higher at 2.401. Resistance is at 2.430
- Malaysian market closed higher at 1578. 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 1576 and 1590.
- CPO April futures is higher at RM3302. Resistance is at 3384.
- Trading : CBSA ( 0041 : 0.445 ) : Targeting 0.60, ECM ( 2143 : 0.88 ) : Targeting 1.00, NICORP ( 4464 : 0.63 ) : Buy below 0.60, VERSATL ( 4995 : 0.42 ) : Targeting 0.48
Source:Jupiter Securities Research 9 March 2012
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