19/11/2012 (Borneo Post) - The US government is facing a challenge as many analysts comment on an imminent fiscal cliff in the coming January.

Obama government is planning to hike tax on the wealthiest Americans while cutting spending budgets.

Retail sales decreased and jobless claims jumped in October due to storm Sandy.

Crude oil prices traded sideways but was prone to firm sentiment due to the military dispute between Palestine and Israel.

WTI Crude prices traded above 86.00 levels on Friday after the market had been well supported at 84.00 grounds for past four weeks.

Moving forward, we predict the market will begin to climb higher while taking 84.00 as bargain-hunting levels.

This week, we target the bulls will climb back to 90.00 levels maintaining the solid buying interest into the near future.

Gold prices swung down below 1,718 supports on last Thursday and began new selling pressures.

The market is prone to consolidate gradually in coming week while it moves in 1,705 to 1,720 ranges.

In our opinion, the market is still trading sideways and will still subject to bearish sign towards end of November.

Abandon your long-view if the prices drop below 1,700 levels as this might re-visit the lower supports at 1,670 again.

Crude Palm Oil Futures (FCPO) on Bursa Derivatives rebounded from 2,220 lows and the new active month in February contract closed at 2,429 on Friday.

The upside reversal was triggered by improved exports data while pulled up by the higher soybean prices.

This week, we foresee the market might reach stagnancy at 2,490 and fall back after that.

Market support will be lifted at 2,370 regions.