Daily Summary - 24 July 2012

YOUR MORNING COFFEE – Tuesday 24/7/2012

SUMMARY

• Wall St closed 0.8% lower, as concerns over the Europe debt crisis remain. Spain may need a full blown bailout.
• Dow of 12,721, has hit a support at 12,583, indicating a limited downside. Resistance is at 13,030. RSI of 49, is neutral.
• DOLLAR INDEX is unchanged at 83.6. Upside is at 84.2.
• Crude oil is lower at USD87.9. Resistance is at 93.6.
• Dollar yen is lower at 78.3 yen. Support is at 78.0.
• Euro/dollar is lower at 1.212. Upside is at 1.245.
• Gold is lower at USD1577. Upside is at 1740.
• Shanghai closed lower at 2,141.
• Singapore STI closed lower at 2,978.
• Ringgit is weaker at 3.177. Downside is at 3.210.
• S’pore ringgit is higher at 2.520. Upside is at 2.540.
• Malaysian market closed lower at 1636. On the Daily chart, it is targeting 1654. Pullback support is at 1624. RSI of 66, is weakening.
• Today’s range is between 1634 and 1644.
• CPO Sep futures is lower at RM2968. Support is at 2924.
• Trading :

Source:Jupiter Securities Research 24 July 2012