Daily Summary - 17 Oct 2012

YOUR MORNING COFFEE – Wednesday 17/10/2012

SUMMARY

• Wall St closed 0.9% higher, driven by solid corporate earnings data. CPI rose 0.6%, higher than expected.
• Dow of 13,551, may have completed its pullback, and is heading upwards to test 14,000. RSI of 57, is on the rise.
• DOLLAR INDEX is lower at 79.1. Support is at 78.7.
• Crude oil is higher at USD92.1. Resistance is at 96.6.
• Dollar yen is higher at 78.7 yen. Support is at 77.6.
• Euro/dollar is higher at 1.309. Resistance is at 1.3400.
• Gold is higher at USD1750. Support is at 1700.
• Shanghai closed lower at 2,098.
• Singapore STI closed lower at 3,042.
• Ringgit is firmer at 3.0460. Downside is at 3.09.
• S’pore ringgit is lower at 2.4980. Upside is at 2.540.
• Malaysian market closed lower at 1653. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1638. RSI of 57, is on a buy divergence. Today’s range is between 1650 and 1660.
• CPO Dec futures is higher at RM2436. Support is at 2379.
• Trading : MUHIBAH ( 5703 : 0.92 ) : Targeting 1.00/Stop loss 0.90
• DAYANG ( 5141 : 2.20 ) : Targeting 2.40/Stop loss 2.10
• GPACKET ( 0082 : 0.54 ) : Targeting 0.70/Stop loss 0.48

Source:Jupiter Securities Research, 17 October 2012