10/06/2013 (Borneo Post) - The US non-farm payrolls grew 175,000 in May and was above expectation. Dow Jones Average Index (DJIA) gained 204 points while gold fell from flight-out of funds.

Crude prices climbed higher from weaker dollar strength and also due to supply cut in crude inventories as reported by Energy Information Administration (EIA).

Both the European Central Bank (ECB) and Bank of England (BoE) held their monetary policies unchanged during last Thursday’s meeting.

ECB president Mario Draghi said policymakers foresee recovery will take place at the end of year in euro-economy.

Gold prices closed at 1,383 regions after falling off from last week’s high at 1,423 areas.

Moving forward, we foresee the trend will continue to be bearish and capped below 1,400 again.

Technically speaking, we expect the downtrend to resume and test the 1,340 supports this week if there is no sudden strong fundamental from major economies.

Abandon your short-view and observe the market if the trend breaks above 1,400 levels.

WTI Crude prices closed at 96.20 regions on Friday after reversing up from 91.05 bottoms.

This week, we reckoned the trend may stay strong but will be resisted at 98 tops for profit-taking.

The range is expected to move from 93 to 98 levels for potential consolidation.

The strength of DJIA on progressive uptrend may lift the crude prices on prone bullish sentiments.

Crude Palm Oil Futures (FCPO) on Bursa Derivatives closed at 2,457 in August contract in bullish sentiment after Wednesday.

This week, the market is prone to climb higher at 2,500 to 2,520 tops before the bulls may fizzle out.

In our opinion, the trend will move in-line with crude prices and probably will slow down only after mid-week.

Support has built up at 2,370 regions.