Daily Summary - 7 Nov 2012

OUR MORNING COFFEE – Wednesday 7/11/2012

SUMMARY

• Wall St closed 1.0% higher, as voters went to the polls to choose their next president. The concern is over the fiscal cliff where tax hike and budget cuts kick in January 2013.
• Dow of 13,245, has found a support at 13,039. Resistance is at 13,600. RSI of 47, is recovering.
• DOLLAR INDEX is lower at 80.6. Resistance is at 82.0.
• Crude oil is higher at USD88.7. Resistance is at 93.1.
• Dollar yen is lower at 80.2 yen. Resistance is at 80.5.
• Euro/dollar is lower at 1.280. Support is at 1.2750.
• Gold is higher at USD1710. Support is at 1643.
• Shanghai closed lower at 2,106.
• Singapore STI closed lower at 3,019.
• Ringgit is weaker at 3.060. Downside is at 3.09.
• S’pore ringgit is higher at 2.502. Upside is at 2.540.
• Malaysian market closed lower at 1645. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1637. RSI of 38, is down. Today’s range is between 1642 and 1652.
• CPO Jan futures is lower at RM2372. Support is at 2320.
• Trading : MNRB ( 6459 : 3.14 ) : Take profit, KULIM ( 2003 : 4.97 ) : Targeting 5.26/Stop loss 4.87, CANONE ( 5105 : 2.30 ) : Targeting 2.54/Stop loss 2.20

Source:Jupiter Securities Research, 07 November 2012