Daily Summary - 25 July 2012

YOUR MORNING COFFEE – Wednesday 25/7/2012

SUMMARY

• Wall St closed 0.8% lower, as concerns over the Europe debt crisis remain. US Fed reported that manufacturing activity in the central Atlantic region dipped to minus 17, the lowest since April 2009.
• Meanwhile, housing prices rose for the first time in 5 years. Dow of 12,617, has hit a support at 12,521, indicating a limited downside. Resistance is at 13,030. RSI of 45, is neutral.
• DOLLAR INDEX is up at 84.0. Upside is at 86.2.
• Crude oil is higher at USD88.2. Resistance is at 93.6.
• Dollar yen is lower at 78.1 yen. Support is at 77.9.
• Euro/dollar is lower at 1.206. Upside is at 1.245.
• Gold is higher at USD1580. Upside is at 1740.
• Shanghai closed higher at 2,146.
• Singapore STI closed higher at 2,999.
• Ringgit is weaker at 3.189. Downside is at 3.210.
• S’pore ringgit is higher at 2.524. Upside is at 2.540.
• Malaysian market closed lower at 1632. 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 RM2968. Support is at 2924.
• Trading : GTRONIC ( 7022 : 1.39 ) : Targeting 1.63/Stop loss 1.23, INGRESS ( 7112 : 1.43 ) : Targeting 1.70/Stop loss 1.26

Source:Jupiter Securities Research 25 July 2012