YOUR MORNING COFFEE – Thursday 18/10/2012

SUMMARY

• Wall St closed 0.04% higher, driven by the strong housing data. Housing starts up 15%, the strongest in 4 years.
• Dow of 13,557, may have completed its pullback, and is heading
• upwards to test 14,000. RSI of 58, 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 79.1 yen. Support is at 77.6.
• Euro/dollar is higher at 1.311. Resistance is at 1.3400.
• Gold is higher at USD1749. Support is at 1700.
• Shanghai closed higher at 2,105.
• Singapore STI closed higher at 3,051.
• Ringgit is firmer at 3.0290. Downside is at 3.09.
• S’pore ringgit is lower at 2.4880. Upside is at 2.540.
• Malaysian market closed higher at 1660. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1638. RSI of 61, is on a buy divergence. Today’s range is between 1656 and 1666.
• CPO Dec futures is lower at RM2430. Support is at 2379.
• Trading : GADANG ( 9261 : 0.66 ) : Take profit, SKPRES ( 7155 : 0.38 ) : Take profit, UNISEM ( 5005 : 1.07 ) : Targeting 1.24/Stop loss 1.00

Source:Jupiter Securities Research, 18 October 2012