SUMMARY
- Wall St closed 0.9% higher, on hope of a deal to resolve the fiscal cliff. Congress has offered to extend the debt limit by a year, and allowing tax on the wealthiest. It also got a boost following the upgrading of Greece by S&P due to the progress in Europe.
- Dow of 13,350, has recovered. Resistance is at 13,600. RSI of 64 is up.
- DOLLAR INDEX is lower at 79.3. Support is at 78.9.
- Crude oil is higher at USD87.9. Resistance is at 93.0.
- Dollar yen is higher at 84.3 yen. Resistance is at 85.0.
- Euro/dollar is higher at 1.322. Resistance is at 1.339.
- Gold is lower at USD1675. Support is at 1643.
- Shanghai closed higher at 2162.
- Singapore STI closed lower at 3,156.
- Ringgit is weaker at 3.049. Downside is at 3.09.
- S’pore ringgit is higher at 2.504. Upside is at 2.540.
- Malaysian market closed higher at 1659. On the Daily chart, it is heading for a retest on the previous high of 1679. RSI is at 68. Support is at 1650. Today’s range is between 1656 and 1666.
- CPO March futures is lower at RM2342. Resistance is at 2516.
- Trading : AFG (2488 : 4.24 ) : Take profit, TIME (4456 : 0.31 ) : Targeting 0.36/Stop loss 0.29, MUDAJYA (5085 : 2.65 ) : Targeting 2.80/Stop loss 2.58, INSAS (3379 : 0.46 ) : Targeting 0.54/Stop loss 0.43
Source: Jupiter Securities Research - 19 December 2012
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