AbgZan
The summary for the world economy for Thursday, 22 April 2010:


• Wall St closed 0.09% higher, recovering from an early sell off due to
concern over larger than reported Greek fiscal trouble. Better housing
figures, and above estimate corporate earnings, cushioned the fall. US
existing home sales rose to 5.35mln unit annual rate in March.
Wholesale inflation PPI up 0.7% in March. Weekly initial jobless claims
down to 456,000. Dollar rose on flight to safety. Dollar up.
Commodities down.
• All in all, Dow of 11,134 is overbought, with strong resistance at the
61.8% retracement of 11,247, indicating a correction. A dip below
11,000, will correct to the 10,844 low of 8/4/2010. The next
low of 11/3/2010 at 10,507, is about 50% retracement. RSI is
at 68.
• Dollar Index is higher at 81.5. Upside is at 83.5.
• Dollar yen is down at 93.1 yen.
• Euro/dollar is lower at 1.33. Support is at 1.315.
• Crude oil is unchanged at USD83.
• Gold is lower at USD1,142. Pullback support is at 1128.
• Shanghai closed lower at 2999
• Singapore STI closed higher 2981.
• Ringgit is weaker at 3.206. Support is at 3.26.
• S’pore ringgit is steady at 2.33.
• Malaysian market closed higher at 1337. While the RSI of 59, and
the Stochastic are recovering, the upside is likely to be capped at
1349. The market is back above the Moving Average of 1335. Today’s
range is between 1332 and 1340.
• CPO May futures is higher at RM2510. Support is at 2425.
• Trading ideas on :
MEASAT ( 3875 : 2.99 ) : Downside 2.80-2.68
UNISEM ( 5005 : 3.31 ) : Targeting 3.66, stop loss 3.12

-Jupiter

Any comment guys?
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