Dow Jones: 17,908.28 pts (+187.03 pts, +1.06%).
U.S. stockmarkets traded strongly to end at a fresh 2016 high and a five-month high led by small caps and financials amid better-than-expected earnings data from JP Morgan.
 
FBM KLCI: 1,728.11 pts (+8.11 pts, +0.47%).
With the strong upward momentum from Wall Street, share prices on Bursa Malaysia may see buying interest and the FBM KLCI may continue its short term uptrend move towards 1,730-1,740.

Crude Palm Oil: RM2,658 (+RM20, +0.76%).
After snapping a six-day losing streak, palm oil futures may surge higher on the back of the strongest El Nino in almost two decades, which may curbed output from top producers like Indonesia and Malaysia. The resistance will be set around RM2,800, followed by RM3,000.

WTI Crude oil: US$42.76 (-US$0.25, -0.58%).
After rallying strongly over the past three trading days, crude oil prices pulled back mildly as traders booked some profits ahead of the output talk in Doha this 17th of April.

Gold: US$1242.47 (-US$13.16, -1.05%)
Selling pressure were noted on Gold amid the US dollar and global equities rally. Immediate support is located around the US$1,209 level.

Economic Releases:
US Initial Jobless Claims – 14 Apr 16, 8:30PM

Bursa Malaysia Trade Statistics – 13 Apr 16
Institutions: Net Sell RM105.4 mln (60.4%)
Retail: Net Buy RM2.1 mln (16.1%)
Foreign: Net Buy RM103.3 mln (23.5%)

Potential Momentum Stocks (14-Apr-2016):

Stock Name: MITRA (9571)
Entry: Buy RM1.28
Target: RM1.35 (5.5%), RM1.40 (9.4%)
Stop: RM1.23 (-3.9%)
Technical: sideways consolidation breakout

Stock Name: BJAUTO (5248)
Entry: Buy above RM2.20
Target: RM2.32 (5.0%), RM2.56 (15.8%)
Stop: RM2.14 (-3.2%)
Technical: Breakout formation

Source: Bloomberg, M+ Online

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