SUMMARY
- Wall St closed 0.22% higher, on the upbeat ISM services index’s rise to 53.7. There is also the support shown by the G-7, on the current debt crisis in the eurozone.
- Dow of 12,127 is heading lower to test the previous low of 11,735. RSI of 28, is on a positive divergence, indicating a technical rebound.
- DOLLAR INDEX is higher at 82.7. Resistance is at 85.0.
- Crude oil is higher at USD84.2. Support is at 80.0.
- Dollar yen is higher at 78.4 yen. Upside is at 80.0.
- Euro/dollar is higher at 1.246. Resistance is at 1.278.
- Gold is higher at USD1619. Upside is at 1700.
- Shanghai closed higher at 2,311.
- Singapore STI closed higher at 2,712.
- Ringgit is firmer at 3.86. Downside is at 3.238.
- S’pore ringgit is lower at 2.480. Upside is at 2.481.
- Malaysian market closed higher 1560. On the Daily chart, a pullback to test the support of 1544 is likely, as the Stochastic has just turned down. RSI of 47, is weakening. Today’s range is between 1556 and 1566.
- CPO Aug futures is higher at RM2960. Upside is at 3288.
- Trading : MPHB ( 3859 : 3.24 ) : Targeting 3.50/Stop loss 3.10, TDM ( 2054 : 3.78 ) : Targeting 4.20/Stop loss 3.69, LITRAK ( 6645 : 4.10 ) : Targeting 4.48/Stop loss 3.92
Source:Jupiter Securities Research 06 June 2012
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