SUMMARY
- Wall St closed 2.4% higher, on expectation of more stimulus for the global economy. There is also the support shown by the G-7, on the current debt crisis in the eurozone.
- Dow of 12,414 is heading higher to test a resistance at 12,900. RSI of 43, is on a positive divergence, indicating a technical rebound.
- DOLLAR INDEX is lower at 82.2. Support is at 81.0.
- Crude oil is higher at USD85.0. Support is at 80.0.
- Dollar yen is higher at 79.2 yen. Upside is at 80.0.
- Euro/dollar is higher at 1.257. Resistance is at 1.278.
- Gold is higher at USD1625. Upside is at 1700.
- Shanghai closed lower at 2,309.
- Singapore STI closed higher at 2,760.
- Ringgit is firmer at 3.161. Downside is at 3.238.
- S’pore ringgit is lower at 2.480. Upside is at 2.481.
- Malaysian market closed higher 1569. On the Daily chart, a technical rebound to test 1591 is likely. RSI of 51, is neutral. Today’s range is between 1570 and 1580.
- CPO Aug futures is higher at RM3010. Upside is at 3288.
- Trading : MAYBANK ( 1155 : 8.70 ) : Targeting 9.20/Stop loss 8.50, UMW ( 4588 : 8.05 ) : Targeting 8.40/Stop loss 7.90, BJTOTO ( 1562 : 4.29 ) : Targeting 4.70/Stop loss 4.20
Source:Jupiter Securities Research 07 June 2012
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