Crude oil closes 2007 with 57% price rise; gold gains 31% on year

Oil falls on home-sales data; up nearly 60% in 2007
Crude-oil futures fell on Monday for a second session after a report showed sales of existing U.S. homes fell 20% in the past year, stirring concerns that oil demand from the world's largest crude consumer may slow. Crude, however, ended the year up nearly 60%.

U.S. existing-home sales rise in November

U.S. Nov. existing-home sales rise 0.4% to 5.00mln pace
The dollar ended the year on a positive note Monday, surging against the euro in holiday-thinned trading after data on existing U.S. home sales suggested a possible end in sight to the housing crisis.

LONG GBP/USD 1.9840 target +25 pips SL 60 pips away

Timeframe: 15mins
Direction: LONG
Price: 1.9840
Target: 1.9865
Stop: 1.9780
comment: cable likely to bounce as RSI showing extreme oversold reading.

Gold to Pass Record in 2008 on Inflation, Survey Says

``The two stories for 2008 are going to be the subprime credit crisis and inflationary issues,'' said Ross Norman, director of London-based data provider TheBullionDesk.com and a former trader of physical bullion. Gold may climb to ``pretty well above $1,000 next year,'' he said.

Short EUR/USD 1.4735 Target 1.4705 Stop loss 1.4795

Timeframe: 15mins
Direction: short
Price: 1.4735
Target: 1.4705
Stop: 1.4795
comment: EUR/USD likely to capped below 1.4750 resistance as weekly chart also suggest healthy retracement.

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