SUMMARY
- Wall St closed 0.7% higher, on hope of a better than expected 1Q’2012 corporate earnings, led by Alcoa, following a surprise result. Concern over Europe eased on a small rally in Spanish and Italian bonds.
- Dow of 12,805, is in for a technical rebound, as technicals have hit oversold level. It has hit a support at 12,710, indicating a likely rebound, with resistance at 13,000. RSI of 38, and Stochastic are on an early uptick.
- Dollar Index is lower at 79.7. Upside is at 80.8.
- Crude oil is higher at USD102.7. Upside is at 108.0.
- Dollar yen is lower at 80.9 yen. Downside is at 80.1.
- Euro/dollar is higher at 1.311. Downside is at 1.300.
- Gold is higher at USD1659. Support is at 1585.
- Shanghai closed higher at 2,308.
- Singapore STI closed lower at 2,946.
- Ringgit is weaker at 3.074. Downside is at 3.110.
- S’pore ringgit is higher at 2.446. Resistance is at 2.440.
- Malaysian market closed higher at 1597. On the Daily chart, it is in for a small technical rebound, as the RSI of 58 has gone neutral. Support remains at 1570. Today’s range is between 1592 and 1604.
- CPO May futures is higher at RM3619. Resistance is at 3630.
- Trading
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