Daily Summary - 23 July 2012

YOUR MORNING COFFEE – Monday 23/7/2012

SUMMARY

• Wall St closed 0.9% lower, as concerns over the Europe debt crisis remain. Market was also dragged by financials.
• Dow of 12,822, is on a small pullback with a support of 12,600. Resistance at 13,030. RSI of 54, is weakening.
• DOLLAR INDEX is higher at 83.6. Upside is at 84.2.
• Crude oil is lower at USD91.4. Resistance is at 93.6.
• Dollar yen is lower at 78.4 yen. Support is at 78.0.
• Euro/dollar is lower at 1.213. Upside is at 1.245.
• Gold is higher at USD1582. Upside is at 1740.
• Shanghai closed lower at 2,168.
• Singapore STI closed lower at 3,017.
• Ringgit is weaker at 3.164. Downside is at 3.210.
• S’pore ringgit is higher at 2.514. Upside is at 2.540.
• Malaysian market closed lower at 1643. On the Daily chart, it is targeting 1654. Pullback support is at 1624. RSI of 72, remains positive. Today’s range is between 1638 and 1648.
• CPO Sep futures is lower at RM3035. Support is at 2924.
• Trading : NOTION ( 0083 : 1.26 ) : Targeting 1.39/Stop loss 1.22, MKLAND ( 8893 : 0.34 ) : Targeting 0.42/Stop loss 0.31 ,TENAGA ( 5347 : 6.82 ) : Targeting 7.60/Stop loss 6.64

Source:Jupiter Securities Research 23 July 2012