KLSE IForex Recommendations

TRADING TIPS :

EUR/USD was up 0.49% at 1.2468, up from a session low of 1.2362 and off a high of 1.2495.The pair was likely to find support at 1.2245, Monday’s low, and resistance at 1.2496, Thursday’s high.The dollar has rallied against the euro and other currencies in recent months on expectations for U.S. monetary policy to grow less accommodative while European and Asian central banks move in the opposite direction.On Friday, mixed U.S. data allowed for profit taking.Meanwhile in Europe, the single currency found support after data showed that industrial production in the euro zone rose 0.1% in October, in line with expectations, after a 0.5% increase in September, whose figure was revised from a previously estimated 0.6% gain.


INTRADAY OUTLOOK
Support: 1.2436
Resistance: 1.2484

RECOMMENDATION:
1. Buy EUR/USD Above 1.2486-TG:1.2506/1.2536 SL 1.2456
2. Sell EUR/USD Below 1.2434-TG:1.2414/1.2384 SL 1.2464

INTRADAY OUTLOOK
Immediate Support: 118.58
Immediate Resistance: 119.09

RECOMMENDATION:
1. Buy USD/JPY Above 119.11-TG:119.31/119.61 SL 118.81
2. Sell USD/JPY Below 118.56-TG:118.36/118.16 SL 118.86

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Investors sold crude oil futures early Monday in Asia with an over supplied market the main driver. On the New York Mercantile Exchange, crude oil for delivery in January tumbled to $56.77 a barrel, down 1.66%. It ended Friday at $57.81 a barrel, after hitting a daily low of $57.40, the weakest level since May 2009 .The head of OPEC said on Sunday the group had no target price for oil, signaling no change to a policy to maintain production levels which has contributed to sharp falls in the price of crude, unnerving global markets.

TRADING STRATEGY :

SELL GOLD BELOW 1213 TARGET 1208 1202 SL 1219
BUY GOLD ABOVE 1220.50 TARGET 1225.50 1231.50 SL 1214.50

KLSE Stock Recommendations

MARKET UPDATES :

Petronas Technology Ventures Sdn Bhd (PTVSB), a technology commercialisation arm of Petroliam Nasional Bhd (Petronas), has signed a licensing agreement with Wasco Coatings (M) Sdn Bhd, a global pipeline coating specialist for the commercialisation of REMCOAT. The agreement was signed at the 8th International Petroleum Technology Conference.

STOCK RECOMMENDATION :

SELL PETRONAS CHEMICALS BELOW 5.060 TARGET 5.030 4.990 SL 5.110

S&P Market News Update

Talk about an oil spill. The spectacular unhinging of crude oil prices over the past six months is weighing mightily on the U.S. stock market.

It’s also the second worst week for the S&P 500 this year SPX, -1.62% which was down about 58 points, over the past five trading days, or 2.83%, compared to a cumulative weekly loss of 61.7 points, or 3.14%, during the week concluding Oct. 10.

Current Market Update

Here are the latest trading levels for Asia's major stock markets: 

Tokyo (Nikkei Average) dpwm 1% 

 Hong Kong (Hang Seng Index) down 1% 

 Shanghai (Shanghai Composite Index) down 0.8% (at break) 

Sydney (S&P/ASX 200) down 0.4% 

Seoul (Kospi) down 0.5% 

 Mumbai (Sensex) down 0.5% 

 Taipei (Taiex) down 0.5%