M+ Online Morning Market Buzz - 4 Dec 19

Dow Jones: 27,502.81 pts (-280.23pts, -1.01%)
U.S. stockmarkets trended lower for the third straight session as the Dow sank 1.0% overnight after U.S. President Donald Trump remarks on the potential delay in U.S.-China trade deal. The immediate support is located at 27,000.

FBM KLCI: 1,562.27 pts (-8.28pts, -0.53%)
The FBM KLCI (-0.5%) was unable to build on to its' previous session gains as the key index gapped down and lingered in the negative territory throughout the entire trading session yesterday. The immediate resistance is located at 1,580.

Crude Palm Oil: RM2,747 (+RM16, +0.59%)
Crude palm oil prices climbed higher after recovering all its' intraday losses, taking cue from the higher oil-related commodity prices. The immediate resistance is located around RM2,800.

WTI Crude Oil: $56.10 (+$0.14, +0.25%)
Crude oil prices extended its' gains on reports over Iraq's proposal to deepen OPEC's production cuts to 1.6 mln barrels per day. The immediate resistance is located at US$58.

Gold: $1,477.61 (+$15.17, +1.04%)
Gold prices staged a sharp recovery, led by the renewed uncertainty over U.S.-China trade progress. The immediate resistance is located around $1,500.

M+ Online Technical Trading Stocks - 4 Dec 19

Stock Name: EKOVEST (8877)
Entry: Buy above RM0.81
Target: RM0.90 (11.1%), RM0.955 (17.9%)
Stop: RM0.75 (-7.4%)
Shariah: Yes
Technical: Bullish engulfing candle

Stock Name: HEXZA (3298)
Entry: Buy above RM0.795
Target: RM0.82 (3.1%), RM0.845 (6.3%)
Stop: RM0.775 (-2.5%)
Shariah: No
Technical: Breakout-pullback-continuation

Source: Bloomberg, M+ Online

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