Dow Jones: 28,703.38 pts (+68.50pts, +0.24%)
U.S. stockmarkets recovered all their intraday losses to finish on a positive note as the Dow gained 0.2% after investor brushed off the escalating geopolitical tension in the Middle East, coupled with the solid IHS Markit purchasing managers index for the U.S. services sector data. The immediate resistance is located at 29,000.

FBM KLCI: 1,597.76 pts (-13.62pts, -0.85%)
The FBM KLCI (-0.9%) started off the week on a soft footing as the key index gapped down and lingered in  the negative territory for the entire trading session yesterday. The immediate support is located at 1,590.

Crude Palm Oil: RM3,042 (-RM74, -2.37%)
Crude palm oil prices extended its' losses as investors booked profit from the recent sharp gains. The immediate support is located around RM3,000.

WTI Crude Oil: $63.27 (+$0.22, +0.35%)
Crude oil prices advanced for the third straight session amid the potentially tougher sanction against Iran that could cause supply disruptions. The immediate support is located at US$60.

Gold: $1,565.74 (+$13.54, +0.87%)
Gold prices advanced for the sixth straight session to close near seven-year high amid the escalating geopolitical tension in the Middle East. The immediate resistance is located around $1,600.

Economic Releases:
JP - Japan's Jibun Bank Services PMI, 8.30AM
EU - Eurozone's Retail Sales, 6.00PM
US - United States' ISM Non-Manufacturing PMI, 11.00PM

M+ Online Technical Trading Stocks - 7 Jan 20

Stock Name: SCOMNET (0001)
Entry: Buy above RM0.765
Target: RM0.825 (7.8%), RM0.865 (13.1%)
Stop: RM0.725 (-5.2%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: SERNKOU (7180)
Entry: Buy above RM0.85
Target: RM0.92 (8.2%), RM0.94 (10.6%)
Stop: RM0.805 (-5.3%)
Shariah: Yes
Technical: Resistance breakout

Source: Bloomberg, M+ Online

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