30/04/2012 (Borneo Post) - Crude prices remain jittery while on the weaker side after Europe following into the worrisome news of Spain’s downgrade in credit rating.

The remarks of US Fed chair­man Bernanke on eagerness to add stimulus in supporting the economic recovery has put the dollar at bay while reversing up the gold prices.

WTI Crude was making small range of consolidation last week while it capped below 106 resist­ances. This week, breaking and settling above 106 levels will attempt 108.5 levels if global de­mands rise unexpectedly.

Otherwise, the technical out­look of natural strength was still prone to weakness that might sink to 100 benchmarks.

Shorting from topside prices above 105 levels might be a better trading opinion with well-con­trolled risk management.

Gold was reacting to Bernan­ke’s remarks of possible QE3 policy while market trend was still digesting it in bullish senti­ment. The market climbed above EMA200 and 1,650 levels last week which signalled strong buying interest.

This week, it will be a great challenge to see if the bulls can pierce above 1,680 resistances for continual uptrend.

Otherwise, we speculate the trend is still uncertain and may subject to fundamental news.

Crude Palm Oil Futures (FCPO) on Bursa Derivatives closed lower in sideway trend after production outlook contracted with global demands.

July delivery month settled at 3,505 on Friday in rising profit-taking in markets. This week, we reckon the market will remain jittery but prone to softening with targets set at 3,430 supports.

The resistance will emerge strong at 3,550 area with short­ing opportunity if it pulls up in early week.