Daily Summary - 16 Nov 2012

YOUR MORNING COFFEE – Friday 16/11/2012

SUMMARY

• Wall St closed 0.2% lower, due poor jobs data, Middle East turmoil,and the continuing concerns over the fiscal cliff where tax hike and budget cuts kick in January 2013. Weekly initial jobless claims rose to 439,000 due to the superstorm Sandy.
• Dow of 12,542, is on a support at 12,398. RSI of 25, is oversold.
• DOLLAR INDEX is higher at 81.1. Resistance is at 82.0.
• Crude oil is lower at USD85.4. Support is at 82.2.
• Dollar yen is higher at 81.1 yen. Support is at 78.9.
• Euro/dollar is higher at 1.278. Support is at 1.2700.
• Gold is lower at USD1715. Support is at 1643.
• Shanghai closed lower at 2,030.
• Singapore STI closed lower at 2,945.
• Ringgit is weaker at 3.063. Downside is at 3.09.
• S’pore ringgit is lower at 2.501. Upside is at 2.540.
• Malaysian market closed lower at 1631. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1628. RSI of 31, is down. Today’s range is between 1628 and 1638.
• CPO Jan futures is higher at RM2434. Resistance is at 2630.
• Trading : WASEONG ( 5142 : 1.80 ) : Targeting 1.94/Stop loss 1.72
• CYBERT ( 0022 : 0.205 ) : Targeting 0.27/Stop loss 0.18, BORNOIL ( 7036 : 0.49 ) : Targeting 0.56/Stop loss 0.42

Source:Jupiter Securities Research, 16 November 2012