SUMMARY
- Wall St closed 0.3% higher, due to good corporate results. However gains were capped on weak economic news. Weekly initial jobless claims rose to 386,000, higher than expected. Leading economic indicators fell 0.3%. Philadelphia US Fed bank reported weak regional manufacturing activity this month.
- Dow of 12,943, is likely to test a resistance at 13,030. RSI of 59, is
- recovering.
- DOLLAR INDEX is lower at 82.9. Downside is at 82.2.
- Crude oil is higher at USD92.6. Resistance is at 93.6.
- Dollar yen is lower at 78.8 yen. Support is at 78.4.
- Euro/dollar is lower at 1.226. Upside is at 1.245.
- Gold is higher at USD1582. Upside is at 1740.
- Shanghai closed higher at 2,184.
- Singapore STI closed higher at 3,021.
- Ringgit is firmer at 3.150. Downside is at 3.210.
- S’pore ringgit is lower at 2.508. Upside is at 2.540.
- Malaysian market closed lower at 1644. On the Daily chart, it is targeting 1654. Pullback support is at 1624. RSI of 75, remains positive. Today’s range is between 1642 and 1652.
- CPO Sep futures is lower at RM3015. Support is at 2924.
- Trading : SBCCORP ( 5207 : 1.02 ) : Take profit, FITTERS ( 9318 : 0.84 ) : Take profit, SKPETRO ( 5218 : 2.44 ) : Take profit, BGYEAR ( 7023 : 0.46 ) : Targeting 0.54/Stop loss 0.40
Source:Jupiter Securities Research 20 July 2012
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