07/01/2013 (Borneo Post) - The US leaders succeed in budget talks and avert the auto-increase in citizens’ tax and spending cuts amounting US$600 billion.

Stocks have been rising glo­bally from short-lived booster while investors are worried of delay eruption in economic slowdown.

Gold prices decline after US FED policymakers said they would end the asset purchase program of monthly US$85 billion sometime in 2013.

Crude rising prices are capped after the US Energy Department reported gasoline and distillate fuel supplies jumped a combined 7.14 million barrels in the week ended December 29.

WTI Crude prices have been trading above the EMA200 sup­port at 91.40 levels but capped at 94.00 resistances.

This week, breaking below 91.50 supports may initiate new selling sentiment while surging above the 94.00 resistances could be triggered by weaker dollar.

However, we are prone to draw down correction since the techni­cal outlook suggests profit-taking at the 94.00 regions.

Abandon your short-view should the trend pierces above 94.00 levels. Gold prices dipped from 1,694 highs to 1,625 regions last week and closed at 1,655 areas on Friday.

This week, we expect the im­mediate resistance to emerge at 1,670 levels while market may slow down into consolidation.

Bargain-hunting will arise at 1,640 regions due to triple support formation on day-chart appearance.

Trade cautiously as both trend to reach 1,600 and 1,700 are pos­sible due to uncertainty in dollar strength.

Crude Palm Oil Futures (FCPO) on Bursa Derivatives eased on profit-taking activity with March delivery contract settled at 2,467. Market turnover recorded at approximately 32,000 contracts on Friday.

This week, we foresee the mar­ket will remain sideways with the support maintaining at 2,400 levels while the upside resistance caps at 2,600 areas.