Dow Jones: 24,706.41 pts (-193.00pts, -0.78%)
U.S. stockmarkets retreated as the Dow (-0.8%) halted a eight-day winning streak after the solid retail sales data in April 2018 that rose 4.7% Y.o.Y increase the expectation over rising interest rates. The immediate resistance is located at 25,000.

FBM KLCI: 1,848.20 pts (-2.22pts, -0.12%)
The FBM KLCI (-0.1%) retreated, dragged down by the eleventh hour selling pressure in selected index heavyweights yesterday. The immediate support is located at 1,830.

Crude Palm Oil: RM2,436 (+RM17, +0.70%)
Crude palm oil prices extended its gains on expectation over higher demand from the Ramadhan festive period. The immediate resistance is envisaged around RM2,450.

WTI Crude Oil: $71.31 (+$0.35, +0.49%)
Crude oil prices advanced but gains were limited amid the surprise build-up in U.S. inventory level. The immediate resistance is located at US$70.

Gold: $1,290.53 (-$22.97, -1.75%)
Gold prices endured one of its worst selldown to close below the US$1,300 level for the first time in 2018 as the Greenback surged against a basket of currencies. The immediate support will be pegged around US$1,260.

Economic Releases:
EU - Eurozone's Inflation Rate, 5.00PM
US - United States' Industrial Production, 9.15PM
US - United States' Manufacturing Production, 9.15PM

Bursa Malaysia Trade Statistics - 15 May 18
Institutions:  Net BUY 661.7 mln (50.1%)
Retail:  Net BUY 175.6 mln (21.0%)
Foreign:  Net SELL 837.3 mln (28.9%)

Potential Momentum Stocks - 16 May 18 
Stock Name: GFM (0009)
Entry: Buy above RM0.53
Target: RM0.59 (11.3%), RM0.625 (17.9%)
Stop: RM0.49 (-7.5%)
Shariah: Yes
Technical: Symmetrical triangle formation breakout

Stock Name: SURIA (6521)
Entry: Buy above RM1.73
Target: RM1.94 (12.1%), RM2.09 (20.8%)
Stop: RM1.61 (-6.9%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

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