Daily Summary - 12 July 2012

YOUR MORNING COFFEE – Thursday 12/7/2012

SUMMARY

• Wall St closed 0.4% lower as the minutes of the latest US Fed meeting
• gave no hint of quantitative easing anytime soon. Wholesale inventories rose 0.3%.
• Dow of 12,604, is on a pullback, with a support at 12,388. RSI of 46, is slightly weak.
• DOLLAR INDEX is higher at 83.4. Resistance is at 83.8.
• Crude oil is higher at USD85.8. Resistance is at 89.4.
• Dollar yen is higher at 79.5 yen. Upside is at 80.6.
• Euro/dollar is lower at 1.224. Support is at 1.187.
• Gold is higher at USD1575. Upside is at 1740.
• Shanghai closed higher at 2,175.
• Singapore STI closed higher at 2,985.
• Ringgit is firmer at 3.178. Downside is at 3.210.
• S’pore ringgit is higher at 2.511. Upside is at 2.540.
• Malaysian market closed higher at 1629. On the Daily chart, it is targeting 1644. Pullback support is at 1625. RSI of 72, remains positive. Today’s range is between 1627 and 1637.
• CPO Sep futures is lower at RM3111. Upside is at 3289.
• Trading : E&O ( 3417 : 1.56 ) : Take profit, ADVENTA ( 7191 : 1.86 ) : Take profit, RSAWIT ( 5113 : 1.14 ) : Take profit, HIBI ( 5199 : 1.56 ) : Targeting 1.80/Stop loss 1.50

Source:Jupiter Securities Research 12 July 2012