Daily Summary - 10 Aug 2012

YOUR MORNING COFFEE – Friday 10/8/2012

SUMMARY

• Wall St closed 0.1% lower. Weekly initial jobless claims dipped to
• 361,000. US trade deficits narrowed to USD42.9bln in June. Wholesale
• inventories dipped 0.2%.
• Dow of 13,165 is heading for a retest on the previous high of 13,338.
• Support is at 12,800. RSI of 62, is rising.
• DOLLAR INDEX is higher at 82.6. Upside is at 86.2.
• Crude oil is lower at USD93.3. Resistance is at 97.3.
• Dollar yen is higher at 78.5 yen. Support is at 77.9.
• Euro/dollar is lower at 1.229. Upside is at 1.262.
• Gold is higher at USD1616. Upside is at 1740.
• Shanghai closed higher at 2,174
• Singapore STI closed lower at 3,052.
• Ringgit is weaker at 3.106. Downside is at 3.210.
• S’pore ringgit is lower at 2.493. Upside is at 2.540.
• Malaysian market closed higher at 1642. On the Daily chart, it is targeting 1710 over a longer term. Near term pullback support is at 1620. RSI of 61, is neutral. Today’s range is between 1637 and 1647.
• CPO Oct futures is higher at RM2871. Resistance is at 3066.
• Trading : GENM ( 4715 : 3.30 ) : Targeting 3.60/Stop loss 3.15, CSL ( 5214 : 1.02 ) : Targeting 1.22/Stop loss 0.94, SEAL ( 4286 : 0.53 ) : Targeting 0.61/Stop loss 0.51

Source:Jupiter Securities Research 10 August 2012