SUMMARY
- Wall St closed 0.6% lower, ahead of the earnings reporting season,and on fear of lower earnings expectations. Spain has been offered an initial 30bln euros to help its troubled banks.
- Dow of 12,653, is on a pullback, with a support at 12,388. RSI of 48, is slightly weak.
- DOLLAR INDEX is higher at 83.3. Resistance is at 83.8.
- Crude oil is lower at USD83.9. Resistance is at 89.4.
- Dollar yen is lower at 79.3 yen. Upside is at 80.6.
- Euro/dollar is lower at 1.225. Support is at 1.187.
- Gold is lower at USD1572. Upside is at 1740.
- Shanghai closed lower at 2,164.
- Singapore STI closed higher at 2,961.
- Ringgit is weaker at 3.185. Downside is at 3.210.
- S’pore ringgit is higher at 2.511. Upside is at 2.540.
- Malaysian market closed higher at 1624. On the Daily chart, it is targeting 1626. Pullback support is at 1591. RSI of 69, remains positive. Today’s range is between 1620 and 1630.
- CPO Sep futures is lower at RM3126. Upside is at 3289.
- Trading : SUPERMX ( 7106 : 2.18 ) : Take profit, THPLANT ( 5112 : 2.60 ) : Take profit. BURSA ( 1818 : 6.35 ) : Take profit ,KSK ( 5097 : 0.68 ) : Targeting 0.88/Stop loss 0.64
Source:Jupiter Securities Research 11 July 2012
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