SUMMARY
- Wall St closed 0.2% higher, continued to cheer on the strong jobs report. In July, 163,000 new jobs were added, against estimate of 95,000. Yields on Spanish and Italian bonds eased further.
- Dow of 13,117 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 higher at 82.3. Upside is at 86.2.
- Crude oil is higher at USD92.2. Resistance is at 93.6.
- Dollar yen is lower at 78.1 yen. Support is at 77.9.
- Euro/dollar is higher at 1.239. Upside is at 1.262.
- Gold is higher at USD1611. Upside is at 1740.
- Shanghai closed higher at 2,154
- Singapore STI closed higher at 3,076.
- Ringgit is weaker at 3.106. Downside is at 3.210.
- S’pore ringgit is lower at 2.497. Upside is at 2.540.
- Malaysian market closed higher at 1639. On the Daily chart, it is targeting 1710 over a longer term. Near term pullback support is at 1620. RSI of 64, is up. Today’s range is between 1635 and 1645.
- CPO Oct futures is lower at RM2920. Resistance is at 3066.
- Trading : KEURO ( 3565 : 1.14 ) : Take profit, MBL ( 5152 : 1.18 ) : Targeting 1.40/Stop loss 1.12, FAVCO ( 7229 : 1.62 ) : Targeting 1.82/Stop loss 1.52
Source:Jupiter Securities Research 07 August 2012
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