Daily Summary - 26 July 2012

YOUR MORNING COFFEE – Thursday 26/7/2012

SUMMARY

• Wall St closed 0.5% higher, but concerns over the Europe debt crisis remain. New home sales fell 8.4% in June, from the May’s two year high.
• Dow of 12,676, has hit a support at 12,521, indicating a limited
• downside. Resistance is at 13,030. RSI of 48, is neutral.
• DOLLAR INDEX is down at 83.6. Upside is at 86.2.
• Crude oil is higher at USD88.7. Resistance is at 93.6.
• Dollar yen is lower at 78.1 yen. Support is at 77.9.
• Euro/dollar is higher at 1.213. Upside is at 1.245.
• Gold is higher at USD1602. Upside is at 1740.
• Shanghai closed lower at 2,136.
• Singapore STI closed lower at 2,990.
• Ringgit is firmer at 3.172. Downside is at 3.210.
• S’pore ringgit is higher at 2.524. Upside is at 2.540.
• Malaysian market closed higher at 1635. On the Daily chart, it is targeting 1654. Pullback support is at 1624. RSI of 62, is weakening.
• Today’s range is between 1629 and 1639.
• CPO Sep futures is lower at RM2910. Support is at 2924.
• Trading : BGYEAR ( 7023 : 0.59 ) : Take profit OLDTOWN ( 5201 : 1.76 ) : Buy below 1.70

Source:Jupiter Securities Research 26 July 2012