Dow Jones: 17,897.46 pts (28.97 pts, -0.16%).
U.S. equities fell mildly ahead of the OPEC meeting as traders were reducing their position amid an uncertainty environment on the crude oil prices. Nevertheless, the Dow managed to gain more than 300 pts over the week, marking the best week in a month.
 
FBM KLCI: 1,727.99 pts (+4.21 pts, +0.24%).  
The key index may trend slightly upwards, retesting the 1,730 level over the near term. The support will be pegged around 1,700.

Crude Palm Oil: RM2,644 (-RM13, -0.49%).
After the CPO prices fell from the recent peak of RM2,793, it has formed a hammer candle near the RM2,600 level. It may rebound from this current juncture, targeting the RM2,800 level.

WTI Crude oil: US$41.75 (-US$0.90, -2.11%).
Crude oil prices extended its pullback over the past three trading days ahead of the OPEC meeting in Doha. However, as the members were not able to come to a common agreement on output freeze levels, the oil may dive lower towards the support near the US$34-US$35 levels.

Gold: US$1,233.90 (+US$6.01, +0.49%)
Gold rebounded after a three-day pullback, selling pressure may resume near the resistance of the US$1,250 level.

Economic Releases:
US National Association of Home Builders Market Index – 18 Apr 16, 10:00PM

Bursa Malaysia Trade Statistics – 15 Apr 16
Institutions: Net Sell RM158.2 mln (61.2%)
Retail: Net Buy RM4.4 mln (15.6%)
Foreign: Net Buy RM53.8 mln (23.2%)

Potential Momentum Stocks (18-Apr-2016):

Stock Name: GOB (1147)
Entry: Buy around RM0.505
Target: RM0.55 (3.0%), RM0.595 (17.8%)
Stop: RM0.49 (-3.0%)
Technical: short term breakout

Stock Name: BRAHIMS (9474)
Entry: Buy above RM0.92
Target: RM1.04 (13.0%), RM1.10 (19.6%)
Stop: RM0.90 (-2.2%)
Technical: Monitor for follow-through buying interest

Source: Bloomberg, M+ Online

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.