Daily Summary - 4 June 2012

YOUR MORNING COFFEE – Monday 4/6/2012

SUMMARY

• Wall St closed 2.2% lower, due to an ugly jobs report. There were only 69,000 jobs added in May, far less than the 150,000 expectation. Unemployment nudged up to 8.2%. ISM’s manufacturing index dipped
• to 54.5. Personal income and spending rose 0.2%.
• Dow of 12,118 is heading lower to test the previous low of 11,735. Support is at 11,525. RSI of 26, is oversold.
• DOLLAR INDEX is lower at 83.0. Resistance is at 85.0.
• Crude oil is lower at USD83.2. Support is at 80.0.
• Dollar yen is lower at 78.2 yen. Downside is at 76.0.
• Euro/dollar is higher at 1.241. Support is at 1.220.
• Gold is higher at USD1621. Upside is at 1700.
• Shanghai closed higher at 2,373.
• Singapore STI closed lower at 2,747.
• Ringgit is weaker at 3.20. Downside is at 3.238.
• S’pore ringgit is higher at 2.473. Upside is at 2.481.
• Malaysian market closed lower 1573. On the Daily chart, a pullback to test the support of 1544 is likely, as the Stochastic has just turned down. RSI of 54, is neutral. Today’s range is between 1560 and 1570.
• CPO Aug futures is lower at RM3010. Upside is at 3288.
• Trading : TAGB ( 5158 : 0.275 ) : Targeting 0.34/Stop loss 0.26, BURSA ( 1818 : 6.05 ) : Targeting 6.40/Stop loss 5.85, BINTAI ( 6998 : 0.375 ) : Targeting 0.46/Stop loss 0.34

Source:Jupiter Securities Research 04 June 2012