YOUR MORNING COFFEE – Wednesday 21/11/2012
SUMMARY
- Wall St closed 0.06% lower, led by a sharp sell off in HP, worries over Europe and the fiscal cliff. Housing starts rose to the highest level in 4 years. Market closed on Thursday for Thanksgiving.
- Dow of 12,788, is heading for a test on the 13,290 resistance. RSI of 40, is recovering.
- DOLLAR INDEX is higher at 80.9. Support is at 80.2.
- Crude oil is lower at USD86.3. Resistance is at 93.0.
- Dollar yen is higher at 81.8 yen. Resistance is at 81.8.
- Euro/dollar is higher at 1.281. Support is at 1.2700.
- Gold is lower at USD1727. Support is at 1643.
- Shanghai closed lower at 2,008.
- Singapore STI closed higher at 2,958.
- Ringgit is firmer at 3.060. Downside is at 3.09.
- S’pore ringgit is lower at 2.498. Upside is at 2.540.
- Malaysian market closed higher at 1624. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1620. RSI of 29, is oversold. Today’s range is between 1622 and 1632.
- CPO Jan futures is lower at RM2424. Resistance is at 2630.
- Trading : AIRPORT ( 5014 : 5.73 ) : Targeting 6.10/Stop loss 5.65, MPHB ( 3859 : 3.74 ) : Take profit, PERDANA ( 7108 : 0.99 ) : Targeting 1.15/Stop loss 0.94
Source:Jupiter Securities Research, 21 November 2012
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