SUMMARY
- Wall St closed 0.2% lower, ahead of Bernanke’s speech Friday, for hint of quantitative easing, to fuel growth. Housing improved on the S&P/Case-Shiller home price index, up 6.9% in the 2Q. Consumer confidence index dipped to 60.6 in August.
- Dow of 13,102, may stage a technical rebound following the past 3 days of drop. Resistance is at 13,338. RSI of 52, is recovering.
- DOLLAR INDEX is lower at 81.4. Downside is at 81.0.
- Crude oil is higher at USD96.3. Resistance is at 100.0.
- Dollar yen is lower at 78.6 yen. Support is at 77.4.
- Euro/dollar is higher at 1.256. Upside is at 1.262.
- Gold is higher at USD1666. Upside is at 1740.
- Shanghai closed higher at 2,073.
- Singapore STI closed lower at 3,042.
- Ringgit is weaker at 3.117. Downside is at 3.210.
- S’pore ringgit is higher at 2.488. Upside is at 2.540.
- Malaysian market closed lower at 1647. 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 1644 and 1652.
- CPO Oct futures is lower at RM3011. Resistance is at 3066.
- Trading : LCHEONG ( 7943 : 0.19 ) : Targeting 0.32/Stop loss 0.17, PWROOT ( 7237 : 1.08 ) : Targeting 1.22/Stop loss 0.98, NAGAMAS ( 8923 : 0.41 ) : Targeting 0.55/Stop loss 0.39, JADI ( 7223 : 0.13 ) : Targeting 0.17/Stop loss 0.11
Source:Jupiter Securities Research 29 August 2012
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