31/12/2012 (Borneo Post) - The US budget talks remain gloomy and uncertain as no new progress has been released.

The US debt ceiling has reached US$16.3 trillion as of December 31, 2012 and fiscal cliff will erupt if the US Congress does not reach an agreement to resolve the matter.

Investors are observing the market sentiment amid light volume and holiday seasons.

Dollar index showed some bull­ish signs before weekend in-lieu of worries in talk budget.

WTI Crude prices declined on Friday from 91.46 highs due to fear of the US budget failure and concurrently suppressed by EMA200 resistance.

This week, we reckon the market will trade in weaker senti­ment with range expected to move from 88.50 to 91.50 levels.

The technical chart shows better approach by picking short trades from topside regions but need abandonment if the trend re­verses above 91.50 resistances.

Gold prices consolidated in 1,647 to 1,667.00 ranges last week in uncertainty.

The market has not shown any sign of new direction but waiting to break either way in coming week.

Same as WTI crude, we expect the market to be softer this week while the prices may wind down to 1,640 regions again.

However, stay abreast of mar­ket news from the US Congress on budget outcome.

Abandon your short-view if the bulls march above 1,670 re­sistances.

Crude Palm Oil Futures (FCPO) trading on Bursa Derivatives closed at five-week high with the March delivery contract settled at 2,494.

Literally, market has been quite in light volume amid holiday sea­sons while short-coverings were seen ahead of year-end.

This week, we reckon the mar­ket will sit tight at 2,420 supports with possibility of ascension to 2,600 areas.

The market may celebrate new-year opening spree as well as weakening ringgit against greenback.