SUMMARY
- Wall St closed for Labor day. Market remains on heightened hope of quantitative easing, to fuel growth and sustain employment.
- Dow of 13,090, is on a technical rebound. Resistance is at 13,338. RSI of 51, is recovering.
- DOLLAR INDEX is lower at 81.2. Support is at 80.9.
- Crude oil is higher at USD96.4. Resistance is at 100.0.
- Dollar yen is lower at 78.3 yen. Support is at 77.4.
- Euro/dollar is higher at 1.258. Upside is at 1.262.
- Gold is higher at USD1692. Upside is at 1740.
- Shanghai closed higher at 2,059.
- Singapore STI closed lower at 3,020.
- Ringgit is weaker at 3.111. Downside is at 3.210.
- S’pore ringgit is lower at 2.495. Upside is at 2.540.
- Malaysian market closed higher at 1653. On the Daily chart, it is targeting 1710 over a longer term. Near term pullback support is at 1643. RSI of 65, is up. Today’s range is between 1650 and 1660.
- CPO Nov futures is higher at RM3054. Resistance is at 3270.
- Trading : WCT ( 9679 : 2.69 ) : Take profit, EVERGRN ( 5101 : 0.66 ) : Targeting 0.76/Stop loss 0.62, ALAQAR ( 5116 : 1.44 ) : Targeting 1.62/Stop loss 1.31
Source:Jupiter Securities Research 04 September 2012
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