SUMMARY
- Wall St closed 0.5% higher, following the Moody’s downgrade of 15 banks. Spain will formally request for bank aid on Monday; it is said that Spanish banks may need 62bln euros.
- Dow of 12,640 is on a pullback support of 12,365. RSI of 50, is weakening.
- DOLLAR INDEX is higher at 82.4. Resistance is at 83.1.
- Crude oil is higher at USD79.3. Support is at 75.6.
- Dollar yen is higher at 80.5 yen. Upside is at 80.6.
- Euro/dollar is lower at 1.254. Support is at 1.232.
- Gold is higher at USD1570. Upside is at 1740.
- Shanghai closed lower at 2,260.
- Singapore STI closed lower at 2,820.
- Ringgit is weaker at 3.191. Downside is at 3.210.
- S’pore ringgit is lower at 2.495. Upside is at 2.520.
- Malaysian market closed higher 1603. On the Daily chart, it is targeting 1607. Pullback support is at 1586. RSI of 64, remains positive. Today’s range is between 1597 and 1607.
- CPO Aug futures is lower at RM2945. Upside is at 3211.
- Trading : TM ( 4863 : 5.69 ) : Take profit
- GKENT ( 3204 : 1.02 ) : Targeting 1.22/Stop loss 0.94
- HWGB ( 9601 : 0.415 ) : Targeting 0.45/Stop loss 0.40
Source:Jupiter Securities Research 25 June 2012
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