Daily Summary - 22 Aug 2012

YOUR MORNING COFFEE – Wednesday 22/8/2012

SUMMARY

• Wall St closed 0.5% lower. Consumer sentiment index rose to 73.6. Index of leading economic indicators rose 0.4%.
• Dow of 13,203 almost hit the previous high of 13,338, before pulling back. Technicals are now negative indicating a test on the 13,000 level. RSI of 59, is on a pullback.
• DOLLAR INDEX is lower at 81.9. Downside is at 81.0.
• Crude oil is higher at USD96.4. Resistance is at 97.3.
• Dollar yen is lower at 79.2 yen. Resistance is at 80.0.
• Euro/dollar is higher at 1.247. Upside is at 1.262.
• Gold is higher at USD1637. Upside is at 1740.
• Shanghai closed higher at 2,118.
• Singapore STI closed higher at 3,065.
• Ringgit is firmer at 3.122. Downside is at 3.210.
• S’pore ringgit is lower at 2.496. Upside is at 2.540.
• Malaysian market closed lower at 1649. 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 higher at RM2928. Resistance is at 3066.
• Trading :

Source:Jupiter Securities Research 22 August 2012