Daily Summary - 4 April 2012

YOUR MORNING COFFEE – Wednesday 4/4/2012

SUMMARY

• Wall St closed 0.5% lower, as the US Fed has indicated that it will not embark on stimulus any time soon. Factory orders for February rose 1.3%. Auto sales surged in March. April is expected to be an up month, as it has being seasonally. Focus is on this Friday’s employment figure.
• Dow of 13,199, has completed its small pullback at 13,002, indicating a resumption of upmove. The all time high is at 14,198. RSI of 57, is neutral. Caution is on the key support 12,860, which will be negative if breached.
• Dollar Index is higher at 79.4. Upside is at 80.2.
• Crude oil is lower at USD104.0. Upside is at 108.0.
• Dollar yen is higher at 82.8 yen. Downside is at 80.1.
• Euro/dollar is lower at 1.322. Downside is at 1.310.
• Gold is lower at USD1647. Support is at 1625.
• Shanghai closed higher at 2,262.
• Singapore STI closed higher at 3,020.
• Ringgit is weaker at 3.059. Downside is at 3.110.
• S’pore ringgit is lower at 2.433. Resistance is at 2.440.
• Malaysian market closed higher at 1606. On the Daily chart, it is heading for 1610-1617, with the overhead resistance at 1628. Critical support is at 1585. RSI of 71, remains firm. Stochastic is steady. Today’s range is between 1602 and 1612.
• CPO May futures is higher at RM3557. Resistance is at 3630.
• Trading : RSAWIT ( 5113 : 1.04 ) : Targeting 1.13-1.16, MUHIBAH ( 5703 : 1.35 ) : Targeting 1.53 ,MALTON ( 6181 : 0.605 ) : Targeting 0.68, PADINI ( 7052 : 1.42 ) : Targeting 1.57

Source:Jupiter Securities Research 04 April 2012