Daily Summary - 26 June 2012

YOUR MORNING COFFEE – Tuesday 26/6/2012

SUMMARY

• Wall St closed 1.1% lower, ahead of EU summit meeting later in the week. Spain has requested for bank aid on Monday. New home sales rose at an annual rate of 369,000.
• Dow of 12,502 is on a pullback support of 12,365. RSI of 46, is weakening.
• DOLLAR INDEX is higher at 82.4. Resistance is at 83.1.
• Crude oil is lower at USD79.0. Support is at 75.6.
• Dollar yen is lower at 79.6 yen. Upside is at 80.6.
• Euro/dollar is lower at 1.250. Support is at 1.232.
• Gold is higher at USD1585. Upside is at 1740.
• Shanghai closed lower at 2,224.
• Singapore STI closed lower at 2,811.
• Ringgit is weaker at 3.196. Downside is at 3.210.
• S’pore ringgit is lower at 2.495. Upside is at 2.520.
• Malaysian market closed unchanged 1603. On the Daily chart, it is
• targeting 1607. Pullback support is at 1586. RSI of 64, remains positive. Today’s range is between 1593 and 1603.
• CPO Aug futures is higher at RM3026. Upside is at 3211.
• Trading : FAVCO ( 7229 : 1.60 ) : Take profit, UMLAND ( 4561 : 2.25 ) : Targeting 2.49/Stop loss 2.18

Source:Jupiter Securities Research 26 June 2012