SUMMARY
- Wall St closed 0.7 higher on expectation of US Fed Wednesday announcing some stimulus measures. In Greece, the pro-bailout parties, New Democracy and Pasok parties, led the election. Building permits rose at an annual rate of 780,000, the fastest pace since Sept 2008.
- Dow of 12,837 is heading higher to test a resistance at 13,100. RSI of 59, is on a positive divergence, indicating a technical rebound.
- DOLLAR INDEX is lower at 81.4. Resistance is at 82.7.
- Crude oil is higher at USD84.0. Upside is at 90.0.
- Dollar yen is higher at 79.1 yen. Upside is at 80.6.
- Euro/dollar is higher at 1.268. Resistance is at 1.283.
- Gold is lower at USD1620. Upside is at 1740.
- Shanghai closed lower at 2,300.
- Singapore STI closed higher at 2,840.
- Ringgit is firmer at 3.150. Downside is at 3.238.
- S’pore ringgit is higher at 2.489. Upside is at 2.520.
- Malaysian market closed higher 1594. On the Daily chart, it is targeting 1604. Pullback support is at 1586. RSI of 62, remains positive. Today’s range is between 1590 and 1600.
- CPO Aug futures is higher at RM2915. Downside is at 2770.
- Trading : OLDTOWN ( 5201 : 1.71 ) : Take profit L&G ( 3174 : 0.39 ) : Take profit, BSTEAD ( 2771 : 5.37 ) : Take profit
Source:Jupiter Securities Research 20 June 2012
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