The summary for the world economy for Tuesday, 27 April 2010:

• Wall St closed barely higher, up 0.01%, ahead of Senate hearing today
on Goldman Sachs. Interest rates are expected to remain low ahead of
the US FOMC Wednesday, and BOJ this week. US 1Q’2010 GDP
estimate Friday. Dollar up. Commodities down.
• Dow of 11,205 is overbought, with the weekly overhead trendline at
the 61.8% retracement of 11,247. 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 72.
• Dollar Index is lower at 81.2. Upside is at 83.5.
• Dollar yen is up at 94.1 yen.
• Euro/dollar is lower at 1.333. Support is at 1.315.
• Crude oil is lower at USD84.
• Gold is lower at USD1,154. Pullback support is at 1128.
• Shanghai closed lower at 2969
• Singapore STI closed higher 3005.
• Ringgit is firmer at 3.183. Upside is at 3.15.
• S’pore ringgit is down at 2.326. A small pullback is likely.
• Malaysian market closed higher at 1340. While the RSI of 61, and
the Stochastic are recovering, the upside is likely to be capped at
1349. Caution is on a downside breach of the Moving Average of
1336. Today’s range is between 1337 and 1342.
• CPO May futures is higher at RM2568, targeting 2631.
• Trading ideas on :
MRCB ( 1651 : 1.60 ) : Recovering
TGOFFS ( 7228 : 1.20) : Consolidation breakout

-Jupiter

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