The summary for the world economy for Wednesday, 28 April 2010:
• Wall St closed 1.9% lower, on fear of worsening eurozone debt crisis,
following the downgrading of Greece and Portugal by S&P. Goldman
Sachs defended itself in the Senate hearing. Consumer confidence
index surged to 57.9 in Apr. US home price index rose to 0.6% in Feb,
the first annual rise in 3 years. 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 mixed.
• Dow of 10,991 is overbought, on the negative divergences of the
Stochastic, and RSI of 66. Following the negative candlestick Doji and
a sharp sell down to below 11,000, a correction to the 10,844 low
of 8/4/2010 is most likely. The next low of 11/3/2010 at
10,507, is about 50% retracement.
• Dollar Index is higher at 81.4. Upside is at 83.5.
• Dollar yen is down at 93.4 yen.
• Euro/dollar is lower at 1.32. Support is at 1.315.
• Crude oil is lower at USD82.
• Gold is higher at USD1,162. Upside is at 1,184.
• Shanghai closed lower at 2907
• Singapore STI closed lower 2984.
• Ringgit is firmer at 3.184. Upside is at 3.15.
• S’pore ringgit is down at 2.328. A small pullback is likely.
• Malaysian market closed lower at 1339. With the RSI of 59, and the
Stochastic weakening, caution is on a downside breach of the
Moving Average of 1336, targeting 1306. Today’s range is
between 1328 and 1340.
• CPO May futures is higher at RM2586, targeting 2631.
• Trading ideas on :
MYEG ( 0138 : 0.45) : Consolidation breakout
KNM ( 7164 : 0.525 ) : Likely Range 0.47 to 0.61
- Jupiter
Any comment just drop it down here ok guys :)
• Wall St closed 1.9% lower, on fear of worsening eurozone debt crisis,
following the downgrading of Greece and Portugal by S&P. Goldman
Sachs defended itself in the Senate hearing. Consumer confidence
index surged to 57.9 in Apr. US home price index rose to 0.6% in Feb,
the first annual rise in 3 years. 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 mixed.
• Dow of 10,991 is overbought, on the negative divergences of the
Stochastic, and RSI of 66. Following the negative candlestick Doji and
a sharp sell down to below 11,000, a correction to the 10,844 low
of 8/4/2010 is most likely. The next low of 11/3/2010 at
10,507, is about 50% retracement.
• Dollar Index is higher at 81.4. Upside is at 83.5.
• Dollar yen is down at 93.4 yen.
• Euro/dollar is lower at 1.32. Support is at 1.315.
• Crude oil is lower at USD82.
• Gold is higher at USD1,162. Upside is at 1,184.
• Shanghai closed lower at 2907
• Singapore STI closed lower 2984.
• Ringgit is firmer at 3.184. Upside is at 3.15.
• S’pore ringgit is down at 2.328. A small pullback is likely.
• Malaysian market closed lower at 1339. With the RSI of 59, and the
Stochastic weakening, caution is on a downside breach of the
Moving Average of 1336, targeting 1306. Today’s range is
between 1328 and 1340.
• CPO May futures is higher at RM2586, targeting 2631.
• Trading ideas on :
MYEG ( 0138 : 0.45) : Consolidation breakout
KNM ( 7164 : 0.525 ) : Likely Range 0.47 to 0.61
- Jupiter
Any comment just drop it down here ok guys :)
