SUMMARY
- Wall St closed 0.6% higher, nudged by improving housing, and CISCO’s higher earnings. Weekly initial jobless claims rose to 366,000, lower than expected. Housing starts rose 22% from a year earlier, and building permits up 30% from July.
- Dow of 13,250 is heading for a retest on the previous high of 13,338.
- Support is at 13,100. RSI of 64, is rising.
- DOLLAR INDEX is lower at 82.3. Downside is at 81.5.
- Crude oil is higher at USD95.6. Resistance is at 97.3.
- Dollar yen is higher at 79.2 yen. Resistance is at 80.0.
- Euro/dollar is higher at 1.235. Upside is at 1.262.
- Gold is higher at USD1616. Upside is at 1740.
- Shanghai closed lower at 2,112.
- Singapore STI closed higher at 3,063.
- Ringgit is firmer at 3.124. Downside is at 3.210.
- S’pore ringgit is lower at 2.500. Upside is at 2.540.
- Malaysian market closed lower at 1650. On the Daily chart, it is targeting 1710 over a longer term. Near term pullback support is at 1620. RSI of 63, is on a negative divergence. Today’s range is between 1646 and 1656.
- CPO Oct futures is lower at RM2852. Resistance is at 3066.
- Trading : KNM ( 7164 : 0.70 ) : Targeting 0.79/Stop loss 0.66, ADVENTA ( 7191 : 1.88 ) : Targeting 2.02/Stop loss 1.84
Source:Jupiter Securities Research 17 August 2012
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