Wall St down 0.14%, tracking the dollar, which rose as safe haven. Dollar was higher; commodities mixed. Housing and tech sectors softened, on Dell’s weak earnings, and downgrade on technology. Trading may be subdued this week due to Thanksgiving on Thursday, and shortened Friday trading. Consumer confidence, and home sales this week may affect the market.
- Dow of 10,318. Support is at 10,171. Resistances at 10,500, 10,800
- Dollar is higher at 88.9 yen. Upside is at 90.6 yen
- Crude oil is lower at USD76.
- Gold of USD1148, may have topped out at intraday high of USD1,152. Correction to USD1127 is possible.
- Ringgit recovers to 3.384, from the low of 3.40. It may have bottomed at 3.40, and is likely to gain to the 61.8% retracement level of 3.37 following the stronger than expected 3Q’2009 GDP growth, which improved to 1.2% contraction, compared to the 2Q’2009’s 3.9% contraction. Upside remains at 3.34.
- S’pore ringgit is firmer at 2.438. With a pullback support at 2.42, the long term upside is at 2.52.
- Malaysia market closed lower at 1274. With strong support at 1271, it is targeting yearend 1292, and 1300.
- CPO Dec futures is steady at RM2351. Upside is at RM2420.
- Today’s trading range is between 1271 and 1278.
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