YOUR MORNING COFFEE – Wednesday 28/11/2012
SUMMARY
- Wall St closed 0.7% lower, focusing on the fiscal cliff and ignoring the positive housing and consumer confidence data. And the deal to avoid debt defaulting in Greece. Home prices gained 3.6%, the biggest increase since 2010.
- Dow of 12,878, is on a small pullback, with a support of 12,700. RSI of 45, is recovering.
- DOLLAR INDEX is higher at 80.4. Support is at 79.6.
- Crude oil is lower at USD87.2. Resistance is at 93.0.
- Dollar yen is higher at 82.1 yen. Support is at 81.0.
- Euro/dollar is lower at 1.294. Resistance is at 1.302.
- Gold is lower at USD1742. Support is at 1643.
- Shanghai closed lower at 1991.
- Singapore STI closed higher at 3,011.
- Ringgit is firmer at 3.048. Downside is at 3.09.
- S’pore ringgit is lower at 2.494. Upside is at 2.540.
- Malaysian market closed lower at 1598. On the Daily chart, the oversold RSI of 17, points to a limited downside, and a likely technical
- rebound to test the overhead resistance of 1644. Support is at 1595.
- Today’s range is between 1595 and 1605.
- CPO Feb futures is lower at RM2410. Support is at 2344.
- Trading : AXIATA ( 6888 : 5.62 ) : Targeting 6.00/Stop loss 5.40
Source:Jupiter Securities Research, 28 November 2012
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