Daily Summary - 13 July 2012

YOUR MORNING COFFEE – Friday 13/7/2012

SUMMARY


• Wall St closed 0.2% lower as the lower than expected corporate results this week continued to weight the market. Weekly initial jobless claims dipped to 350,000, a 4 year low.
• Dow of 12,573, is on a pullback, with a support at 12,388. RSI of 45,
• is slightly weak.
• DOLLAR INDEX is higher at 83.6. Resistance is at 83.8.
• Crude oil is higher at USD86.0. Resistance is at 89.4.
• Dollar yen is lower at 79.3 yen. Upside is at 80.6.
• Euro/dollar is lower at 1.219. Support is at 1.187.
• Gold is lower at USD1569. Upside is at 1740.
• Shanghai closed higher at 2,185.
• Singapore STI closed lower at 2,972.
• Ringgit is weaker at 3.190. Downside is at 3.210.
• S’pore ringgit is lower at 2.507. Upside is at 2.540.
• Malaysian market closed lower at 1625. On the Daily chart, it is targeting 1644. Pullback support is at 1624. RSI of 70, remains positive. Today’s range is between 1624 and 1634.
• CPO Sep futures is lower at RM3111. Upside is at 3289.
• Trading : NYLEX ( 4944 : 0.58 ) : Targeting 0.74/Stop loss 0.53, KHEESAN ( 6203 : 0.42 ) : Targeting 0.53/Stop loss 0.38, SKPETRO ( 5218 : 2.21 ) : Targeting 2.40/Stop loss 2.18, HARVEST (9342 : 0.61) : Take profit

Source:Jupiter Securities Research 13 July 2012