Daily Summary - 29 Nov 2012

YOUR MORNING COFFEE – Thursday 29/11/2012

SUMMARY

• Wall St closed 0.8% higher, focusing on the fiscal cliff. New home sales fell 0.3% from last month. US Fed Beige book reported a slow expansion in the 12 districts.
• Dow of 12,985, is heading for a test on the overhead resistance of 13,290. RSI of 50, is recovering.
• DOLLAR INDEX is lower at 80.3. Support is at 79.6.
• Crude oil is lower at USD86.5. 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 USD1722. Support is at 1643.
• Shanghai closed lower at 1973.
• Singapore STI closed lower 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 higher at 1606. On the Daily chart, the oversold RSI of 28, 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 1600 and 1614.
• CPO Feb futures is lower at RM2394. Support is at 2344.
• Trading : TM (4863 : 5.50 ) : Targeting 5.85/Stop loss 5.36

Source:Jupiter Securities Research, 29 November 2012