YOUR MORNING COFFEE – Wednesday 13/6/2012
SUMMARY
- Wall St closed 1.3% higher, led by financials. The rally was due to bargain hunting, after the previous day’s sharp sell down. Focus is on the Greek election Sunday, which may derail the austerity efforts.
- Dow of 12,573 is heading higher to test a resistance at 12,900. RSI of 50, is on a positive divergence, indicating a technical rebound.
- DOLLAR INDEX is lower at 82.4. Support is at 80.9.
- Crude oil is higher at USD83.3. Support is at 80.0.
- Dollar yen is higher at 79.5 yen. Upside is at 80.6.
- Euro/dollar is higher at 1.250. Resistance is at 1.283.
- Gold is higher at USD1608. Upside is at 1740.
- Shanghai closed lower at 2,289.
- Singapore STI closed higher at 2,789.
- Ringgit is weaker at 3.177. Downside is at 3.238.
- S’pore ringgit is lower at 2.475. Upside is at 2.520.
- Malaysian market closed lower 1576. On the Daily chart, it is expected to breach the Double top of 1582, to target 1591. Pullback support is at 1568. RSI of 54, remains positive. Today’s range is between 1573 and 1583.
- CPO Aug futures is lower at RM2963. Upside is at 3288.
- Trading : FAVCO ( 7229 : 1.43 ) : Targeting 1.60/Stop loss 1.35, FAJAR ( 7047 : 1.08 ) : Targeting 1.22/Stop loss 1.04, Source:Jupiter Securities Research 13 June 2012
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