SUMMARY
- Wall St closed 0.8% higher, on hope of quantitative easing, to fuel growth. And some positive resolve to the European woes. Durable goods orders rose 4.2%, higher than expected.
- Dow of 13,157, may stage a technical rebound following the past 3 days of drop. Resistance is at 13,338. RSI of 55, is recovering.
- DOLLAR INDEX is lower at 81.4. Downside is at 81.0.
- Crude oil is lower at USD95.9. Resistance is at 100.0.
- Dollar yen is higher at 78.7 yen. Support is at 77.4.
- Euro/dollar is lower at 1.251. Upside is at 1.262.
- Gold is higher at USD1674. Upside is at 1740.
- Shanghai closed lower at 2,092.
- Singapore STI closed lower at 3,047.
- Ringgit is weaker at 3.100. Downside is at 3.210.
- S’pore ringgit is lower at 2.481. Upside is at 2.540.
- Malaysian market closed lower at 1648. On the Daily chart, it is targeting 1710 over a longer term. Near term pullback support is at 1644. RSI of 63, is down. Today’s range is between 1646 and 1656.
- CPO Oct futures is higher at RM3052. Resistance is at 3066.
- Trading : MBL ( 5152 : 1.28 ) : Take profit, MAYBULK ( 5077 : 1.55 ) : Take profit, MAS ( 3786 : 1.08 ) : Targeting 1.30/Stop loss 1.00, TAKASO ( 7071 : 0.20 ) : Targeting 0.25/Stop loss 0.18
Source:Jupiter Securities Research 27 August 2012
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