Daily Summary - 28 Aug 2012

YOUR MORNING COFFEE – Tuesday 28/8/2012

SUMMARY

• Wall St closed 0.25% lower, on hope of quantitative easing, to fuel
• growth.
• Dow of 13,124, may stage a technical rebound following the past 3 days of drop. Resistance is at 13,338. RSI of 53, is recovering.
• DOLLAR INDEX is higher at 81.6. Downside is at 81.0.
• Crude oil is lower at USD95.5. Resistance is at 100.0.
• Dollar yen is higher at 78.7 yen. Support is at 77.4.
• Euro/dollar is lower at 1.250. Upside is at 1.262.
• Gold is lower at USD1664. Upside is at 1740.
• Shanghai closed lower at 2,055.
• Singapore STI closed lower at 3,044.
• Ringgit is weaker at 3.115. Downside is at 3.210.
• S’pore ringgit is higher at 2.487. 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 61, is down. Today’s range is between 1647 and 1652.
• CPO Oct futures is higher at RM3086. Resistance is at 3066.
• Trading : SYF ( 7082 : 0.61 ) : Take profit, SCOMI ( 7158 : 0.29 ) : Take profit
• SCOMIMR ( 7045 : 0.32 ) : Targeting 0.38/Stop loss 0.305, JOHOTIN ( 7167 : 1.82 ) : Targeting 1.95/Stop loss 1.77

Source:Jupiter Securities Research 28 August 2012