Daily Summary - 30 Nov 2012

YOUR MORNING COFFEE – Friday 30/11/2012

SUMMARY

• Wall St closed 0.3% higher due to improving economy. Focus remains on the fiscal cliff. Weekly initial jobless claims dipped to 393,000. US 3Q’2012 GDP grew 2.7%. Pending home sales jumped 5.2%.
• Dow of 13,021, is heading for a test on the overhead resistance of 13,290. RSI of 52, is recovering.
• DOLLAR INDEX is lower at 80.2. Support is at 79.6.
• Crude oil is higher at USD88.0. Resistance is at 93.0.
• Dollar yen is higher at 82.1 yen. Support is at 81.0.
• Euro/dollar is higher at 1.297. Resistance is at 1.302.
• Gold is higher at USD1725. Support is at 1643.
• Shanghai closed lower at 1963.
• Singapore STI closed higher at 3,045.
• 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 1607. On the Daily chart, the oversold RSI of 29, points to a likely technical rebound to test the overhead resistance of 1644. Support is at 1595. Today’s range is between 1604 and 1614.
• CPO Feb futures is lower at RM2386. Support is at 2344.
• Trading : AXIATA (6888 : 5.92 ) : Take profit, BENALEC (5190 : 1.29 ) : Buy below 1.25, POS (4634 : 3.12 ) : Take profit

Source:Jupiter Securities Research, 30 November 2012