Daily Summary - 6 Aug 2012

YOUR MORNING COFFEE – Monday 6/8/2012

SUMMARY

• Wall St closed 1.7% higher, due to the strong jobs report. In July, 163,000 new jobs were added, against estimate of 95,000.
• Dow of 13,096 is heading for a retest on the previous high of 13,338. Support is at 12,800. RSI of 60, is rising.
• DOLLAR INDEX is lower at 82.1. Upside is at 86.2.
• Crude oil is higher at USD91.4. Resistance is at 93.6.
• Dollar yen is higher at 78.5 yen. Support is at 77.9.
• Euro/dollar is higher at 1.241. Upside is at 1.262.
• Gold is higher at USD1605. Upside is at 1740.
• Shanghai closed higher at 2,132
• Singapore STI closed higher at 3,051.
• Ringgit is stronger at 3.102. Downside is at 3.210.
• S’pore ringgit is lower at 2.497. Upside is at 2.540.
• Malaysian market closed higher at 1635. On the Daily chart, it is targeting 1710 over a longer term. Near term pullback support is at 1590-1610. RSI of 60, is up. Today’s range is between 1628 and
• 1638.
• CPO Oct futures is lower at RM2937. Resistance is at 3066.
• Trading : L&G ( 3174 : 0.49 ) : Take profit, JOHOTIN ( 7167 : 1.81 ) : Take profit, MYEG ( 0138 : 0.74 ) : Take profit, TM ( 4863 : 5.73 ) : Targeting 6.00/Stop loss 5.60

Source:Jupiter Securities Research 06 August 2012