25/03/2013 (Borneo Post) - Last week, the US Federal Reserve chairman Ben S Bernanke said that policy­makers would inject new financial stimuli only if more added jobs could be seen.

He reiterated the continual effort of central bank to put up monthly US$85 billion into Treasury and Housing supports without stating the future termi­nation. While, eurozone has been largely focused in Cypress for its debt problem which has not been resolved.

President Nicos Anastasiades failed in negotiating fund rescue from European Central Bank and Moscow government while clos­ing the local banks till Monday. Uncertainty will loom in euro currency this week.

Gold prices were slightly strong from steady recovery in US hous­ing and manufacturing data while rising from 1,590 levels to 1,616 tops. This week, it is difficult to gauge the direction of yellow metal from fundamental factors as it seems to decouple from inverse correlation to USDX.

Technically, we reckon the possibility to sideway fluctuation around 1,6000 benchmarks again but breaking below 1,590 supports may initiate new bearish trend to re-visit 1,560 targets. Piercing above 1,616 could climb higher to 1,640 levels.

WTI Crude prices are still re­acting inversely to USDX trend healthily. The market is now trading from 92.40 supports and suppressed at 94.50 resistances. The failing resolution of Cypress debt may trigger flight of funds into US dollar which will punt down crude prices in coming week, or vice versa.

Technically, there is no clue from chart reading unless we see the direction moves beyond either of the extremes as stated above in near future.

Crude Palm Oil Futures (FCPO) on Bursa Derivatives made tech­nical recovery last week from general prices rising in all agri­cultural commodities. The June active delivery month closed at 2,494 on Friday with increased volume of short-covering.

This week, we reckon the mar­ket may probably continue to ascend higher with support sitting on 2,440 levels. Topside target aims at 2,550 areas once it clears above 2,500 benchmarks.

Disclaimer: This report is written for general information only. No liability by the writers, publisher or any third party involved in the distribution of this work. Dar Wong and Chong HC are the market strategists in APSRI on CPO markets. Wong has 22 years of trading and hedging experiences while HC traded for four years and now coaches institutional customers. They can be reached at www.traderpromaster.com.