SUMMARY
- Wall St closed 1.2% higher, on expectation of stimulus measures following the Greek election Sunday, which may derail the austerity measures. Weekly initial jobless claims rose to 382,000.
- Dow of 12,651 is heading higher to test a resistance at 12,900. RSI of 53, is on a positive divergence, indicating a technical rebound.
- DOLLAR INDEX is lower at 81.8. Support is at 80.9.
- Crude oil is higher at USD83.9. Upside is at 90.0.
- Dollar yen is lower at 79.4 yen. Upside is at 80.6.
- Euro/dollar is higher at 1.262. Resistance is at 1.283.
- Gold is higher at USD1621. Upside is at 1740.
- Shanghai closed lower at 2,295.
- Singapore STI closed lower at 2,774.
- Ringgit is stronger at 3.173. Downside is at 3.238.
- S’pore ringgit is lower at 2.475. Upside is at 2.520.
- Malaysian market closed lower 1570. On the Daily chart, it is expected to breach the Double top of 1582, to target 1591. Pullback support is at 1568. RSI of 50, remains positive. Today’s range is between 1568 and 1578.
- CPO Aug futures is lower at RM2858. Upside is at 3288.
- Trading : UMW ( 4588 : 8.40 ) : Take profit, PERDANA ( 7108 : 0.59 ) : Take profit, TRC ( 5054 : 0.67 ) : Buy around 0.65/Stop loss 0.62
Source:Jupiter Securities Research 15 June 2012
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