17/09/2013 (Borneo Post) - The Dow Jones and global stocks firmed sentiments last week as war threats in Syria toned down. Syria agreed to submit its chemical weapons to the United Nations’ (UN) inspectors as proposed by Russia during a meeting with US President Barrack Obama.

American jobless claims fell again to 292,000 for the week ended September 7 and triggered new expectations of tapering stimulus in September.

Gold prices fell during the weekend while crude softened as war threat showed signs of waning.

Gold prices fell from estimated 1,390 tops to 1,310 bottoms throughout the week.

Moving forward, we reckoned the trend may be capped at 1,335 and prone to bearishness if the Federal Open Market Committee (FOMC) on Thursday, reiterates on cutting down stimulus.

The market may test the 1,295 to 1,300 bottoms before rebounding for technical correction. Short traders from the topside should not persist in if the prices reach above 1,335 resistances.

WTI Crude prices have been trading in mid-range between 106 and 111 regions. Market has been softening last week as the calling for air strikes against Syria waned.

This week, we predict immediate resistance will remain at 109 and the bear might drive the market lower at 105.50 to 106 areas. Breaking above 109 resistances will be countered by another higher resistance at 111 levels. Stay observant to the fundamental news for to decide the price sensitivity in market.

Crude Palm Oil Futures (FCPO) on Bursa Derivatives closed lower as November contracted expired on Friday.

The newly rolled-over December contract settled at 2,344 with a decline in trading volume. Higher inventory caused uncertainties for investors as demand contracts.

This week, we forecast the trend may begin its bearishness with resistance emerging at 2,400. Potential for slide is possible as we expect the target to stay at 2,250 levels.