26/12/2012 (Borneo Post) - The US dollar index (USDX) declined on Friday late session that spurred the buying in WTI Crude and Gold markets.

The Brussels summit held by the 27 bloc nations in European Union ended with no agreement reached for the budget plan and bailout plan for Greek sovereign debt.

Despite that, European currencies surged inversely to weakening dollar and short-squeezed market sellers just before the weekend.

WTI Crude prices closed at 88.04 on Friday which hovered around the EMA200 line with uncertainty.

This week, we expect the trend to make large consolidation from 84.50 to 92.00 ranges depending on the fundamental leads.

Beware of the rising tension in Egypt against the President Mohamed Morsi.

Technically, we may prefer to establish long trades from abovementioned bottoms because the crude prices are still prone to rise over mid-term.

Abandon your long-view only if the trend sinks beneath 84.50 supports.

Gold prices caught the market sellers off the feet on Friday as it rose sharply from 1,730 to 1,750 regions.

This week, we foresee the market will stay fi rm at topside before profi t-taking may occur towards Friday.

Technically, we reckon the trend will dawdle into the resistance in 1,755 – 1,760 areas before sliding back to 1,740 areas.

Abandon your short-view should the trend settles above 1,760 resistances.

Crude palm oil futures (FCPO) on Bursa Derivatives was range bound last week but traded in tight range on Friday while awaiting export data on coming Monday.

The February contract closed at 2,395 for the weekend amid mild selling in technical trading.

This week, we reckon the market may test the 2,330 to 2,350 supports before moving into sideways trend.

Topside resistance will remain at 2,480 to 2,500 areas should the bulls ascend.

Breaking above 2,500 levels will be sign of another bullish trend.