SUMMARY
- Wall St closed 0.4% higher, on prospect of central banks supporting the global economy from dipping into recession. A US Fed official has called for an aggressive quantitative easing.
- Dow of 13,168 is heading for a retest on the previous high of 13,338.
- Support is at 12,800. RSI of 62, is rising.
- DOLLAR INDEX is higher at 82.3. Upside is at 86.2.
- Crude oil is higher at USD93.6. Resistance is at 97.3.
- Dollar yen is higher at 78.6 yen. Support is at 77.9.
- Euro/dollar is lower at 1.238. Upside is at 1.262.
- Gold is lower at USD1609. Upside is at 1740.
- Shanghai closed higher at 2,157
- Singapore STI closed lower at 3,069.
- 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 lower at 1631. On the Daily chart, it is targeting 1710 over a longer term. Near term pullback support is at 1620. RSI of 55, is neutral. Today’s range is between 1628 and 1638.
- CPO Oct futures is lower at RM2923. Resistance is at 3066.
- Trading : MBFHLDG ( 1236 : 1.11 ) : Take profit, FAVCO ( 7229 : 1.80) : Take profit, MEDIA ( 4502 : 2.42 ) : Targeting 2.62/Stop loss 2.33, UNISEM ( 5005 : 1.25 ) : Targeting 1.50/Stop loss 1.14
Source:Jupiter Securities Research 08 August 2012
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