SUMMARY
- Wall St closed 1.5% higher, on hope that central banks in Europe and US will take steps to support the economy. French and German leaders voiced commitment to protect the eurozone. This followed on the similar statement by the ECB president. US economy grew at 1.5% in the 2Q.
- Dow of 13,075, is heading for a retest on the previous high of 13,338.
- RSI of 62, is on the rise.
- DOLLAR INDEX is down at 82.7. Upside is at 86.2.
- Crude oil is higher at USD90.1. Resistance is at 93.6.
- Dollar yen is higher at 78.4 yen. Support is at 77.9.
- Euro/dollar is higher at 1.229. Upside is at 1.245.
- Gold is higher at USD1622. Upside is at 1740.
- Shanghai closed higher at 2,128.
- Singapore STI closed lower at 3,002.
- Ringgit is firmer at 3.151. Downside is at 3.210.
- S’pore ringgit is lower at 2.524. Upside is at 2.540.
- Malaysian market closed higher at 1624. On the Daily chart, it is targeting 1710 over a longer term. Near term pullback support is at 1590-1610. RSI of 54, is weakening. Today’s range is between 1620 and 1630.
- CPO Sep futures is higher at RM2915. Support is at 2924.
- Trading : MRCB ( 1651 : 1.73 ) : Targeting 2.00/Stop loss 1.66, IJM ( 3336 : 5.14 ) : Targeting 5.50/Stop loss 5.07
Source:Jupiter Securities Research
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