Dow Jones: 18,096.27 pts (+42.67pts, +0.24%)
U.S. stockmarkets rose for the third consecutive day above the 18,000 psychological level on the back amid the rally on crude oil prices. The S&P 500 is holding at four-month high with the investors anticipating for a better-than-estimate results season.

FBM KLCI: 1,708.91 pts (-2.24pts, -0.13%)
The FBM KLCI is still hovering below the EMA20 level, but managed to rebound from its intra-day low of 1,704.70 pts. If the FBM KLCI can surpass the 1,715 level, the key index may retest the 1,730 level over the near term. Meanwhile, the support will be pegged around the 1,700 level.

Crude Palm Oil: RM2,709 (+RM21, +0.78%)
Palm oil futures close near two-week high after gain in soybean oil. Also, as the ongoing dry spell in key palm-oil areas of Malaysia, the production is likely to be affected for a period of 6-9 months.

WTI Crude Oil: $44.18 (+$3.10, +7.50%)
U.S. crude output fell 24,000 barrels a day last week (lowest since October 2014) and the WTI crude oil price rose above US$43. On a side note, Iraq mentioned that Major OPEC and other crude producers will meet in Russia, possibly in May to discuss on an output freeze.

Gold: $1,244.25 (-$5.94, -0.48%)
Gold hit the short term resistance near the US$1,250 level and pulled back mildly. However, on the longer term view, gold price is likely to breakout of this consolidation phase as volumes have been picking over the recent months. Medium term upside may be located around the US$1,300 level.

Economic Releases:
US Initial Jobless Claims – 21 Apr 16, 8:30PM
US Continuing Jobless Claims – 21 Apr 16, 8:30PM
FHFA US House Price Index – 21 Apr 16, 9:00PM

Bursa Malaysia Trade Statistics - 20 Apr 16
Institutions:  Net BUY 101.4 mln (58.0%)
Retail:  Net SELL 6.4 mln (16.3%)
Foreign:  Net SELL 95.0 mln (25.7%)

Potential Momentum Stocks (21 Apr 16):
Stock Name: GADANG (9261)
Entry: Buy around RM2.00
Target: RM2.20 (10.0%), RM2.40 (20.0%)
Stop: RM1.95 (-2.5%)
Technical: Bullish Engulfing Bar

Stock Name: WASEONG (5142)
Entry: Buy around RM0.80
Target: RM0.86 (6.9%), RM0.88 (9.4%)
Stop: RM0.785 (-1.9%)
Technical: Potential short term breakout

Source: Bloomberg, M+ Online

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