SUMMARY
- Wall St closed 0.2% lower, following the poor Japan’s trade deficit of USD6.5bln in July on worsening exports. US existing home sales were higher in July, but lower than expectation. Still, expectation of quantitative easing remains as indicated in the latest US Fed minutes.
- Dow of 13,172, may stage a technical rebound following the past 2
- days of drop. Resistance is at 13,250. RSI of 57, is on a pullback.
- DOLLAR INDEX is lower at 81.4. Downside is at 81.0.
- Crude oil is higher at USD96.9. Resistance is at 100.0.
- Dollar yen is lower at 78.5 yen. Support is at 77.4.
- Euro/dollar is higher at 1.253. Upside is at 1.262.
- Gold is higher at USD1655. Upside is at 1740.
- Shanghai closed lower at 2,107.
- Singapore STI closed lower at 3,050.
- Ringgit is firmer at 3.111. Downside is at 3.210.
- S’pore ringgit is lower at 2.494. Upside is at 2.540.
- Malaysian market closed higher at 1652. On the Daily chart, it is targeting 1710 over a longer term. Near term pullback support is at 1620. RSI of 66, is up. Today’s range is between 1650 and 1656.
- CPO Oct futures is higher at RM3022. Resistance is at 3066.
- Trading : BSTEAD ( 2771 : 5.42 ) : Targeting 6.00/Stop loss 5.30, TDM ( 2054 : 3.88 ) : Targeting 4.26/Stop loss 3.77, SCOMI ( 7158 : 0.25 ) : Targeting 0.30/Stop loss 0.225
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