Daily Summary - 24 Apr 2012

YOUR MORNING COFFEE – Tuesday 24/4/2012

SUMMARY 

• Wall St closed 0.8% lower, due to a change in European political landscape and a slowdown in the Chinese economy. French President Sarkozy has lost the first round of elections. Dutch PM resigned,
• jeopardizing its AAA rating; a coalition party withdrew due to disagreements over the 2013 budgets.
• Dow of 12,927 is on a correction, with the upside likely to be capped at 13,000. Support is at 12,710, then 12512. RSI of 46, is weakening.
• DOLLAR INDEX is higher 79.3. Support is at 78.8.
• Crude oil is lower at USD102.6. Upside is at 108.0.
• Dollar yen is lower at 81.1 yen. Upside is at 82.6.
• Euro/dollar is lower at 1.315. Upside is at 1.346.
• Gold is lower at USD1636. Buy. It is about to resume its uptrend.
• Shanghai closed lower at 2,388.
• Singapore STI closed lower at 2,960.
• Ringgit is weaker at 3.067. Downside is at 3.110.
• S’pore ringgit is higher at 2.458. Resistance is at 2.480.
• Malaysian market closed lower at 1583. On the Daily chart, it is in a correction, with the upside capped at 1589. RSI of 45, is weakening.
• Support is at 1564. Today’s range is between 1579 and 1589.
• CPO June futures is lower at RM3493. Support is at 3420.
• Trading : MUDAJYA ( 5085 : 2.62 ) : Accumulate below 2.54, BJCORP ( 3395 : 0.885 ) : Avoid – Support 0.81, PCHEM ( 5183 : 6.60 ) : Double bottom, CYBERT ( 0022 : 0.835 ) : Targeting 0.94/Stop loss 0.78

Source:Jupiter Securities Research 24 April 2012