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NY coffee biased to break support at $1.8690 SINGAPORE: New York December coffee is biased to break a support at $1.8690 per lb, and then fall further towards $1.7780.A five-wave cycle from the Oct. 13 high of $2.2545 is believed to be over at the Oct. 27 low of $1.88. However, the weak rebound from this low and the following drop signal an extension of the cycle.It is not very clear yet if the current fall is driven by a wave (3) or a wave c, but both of them are fierce enough to travel to $1.6310, the July 15 low.A Fibonacci retracement analysis on the rise from $1.6310 to $2.2545 reveals a support at $1.8690, the 61.8 percent level, a break below which will lead to a further loss to $1.7780, the 76.4 percent level.** Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own.No information in this analysis ...

Malaysia's palm oil stocks seen easing in 2014, 2015-MPOB KUALA LUMPUR: Malaysian palm oil stocks could drop 14 percent at end-2014 from the 2.09 million tonnes hit at end-September, a senior official from the Malaysian Palm Oil Board (MPOB) said on Friday.Inventories are seen drawing down to 1.8 million tonnes at the end of the year, and will likely end 2015 at 1.7 million tonnes, said Ramli Abdullah, the head of MPOB's economic unit, at an industry meeting in Kuala Lumpur on Friday.The industry ...

NY cocoa to fall to $2,893 SINGAPORE: New York Dec. cocoa may end its current rebound around a resistance at $2,947 per tonne, and then fall towards a support at $2,893.Cocoa is riding on a wave C, the third wave of a three-wave cycle that started at the Sept. 25 high of $3,399. This wave has not yet completed, as it will consist of five small waves. So far, only four have unfolded.A Fibonacci projection analysis reveals that the wave C ...

CBOT wheat to drop to $5.23 SINGAPORE: A bullish target at $5.50 per bushel has been temporarily aborted for CBOT December wheat , as it failed to break a resistance at $5.36-3/4.The resistance is provided by the 23.6 percent Fibonacci retracement on the fall from the May 6 high of $7.65 to the Sept. 25 low of $4.66-1/4. The failure has been followed by a drop towards $5.23, a support provided by the lower channel line of a rising channel.A drop ...

Gold, silver tumble to four-year lows as dollar rallies SINGAPORE: Gold and silver slumped to their lowest since 2010 on Friday, as robust US economic data and a stronger dollar pressured prices, with stop-loss orders accelerating the metals' decline.Gold and silver were hit hard after the dollar rose to a near four-week high against a basket of major currencies on Friday. The greenback got a boost from strong US gross domestic product data and the Bank of Japan's surprise move to expand its massive ...

NY sugar neutral in 16.19-16.43 cents range SINGAPORE: New York March sugar looks neutral in a range of 16.19-16.43 cents per lb, and an escape will point a direction.The range has been formed by the 76.4 percent and the 50 percent Fibonacci projection levels of a downward wave c, the third wave of a three-wave cycle falling from the Oct. 9 high of 17.20 cents.A fall below 16.19 cents could be extended to 15.97 cents, the 100 percent level, while a surge ...

CBOT corn may retest resistance at $3.80 SINGAPORE: CBOT Dec. corn may retest resistance at $3.80 per bushel, a break above which will open the way towards $3.93-1/4.The resistance is provided by the 23.6 percent Fibonacci retracement on the fall from the June 19, 2013 high of $5.80 to the Oct. 1 low of $3.18-1/4. The next resistance will be at $3.93-1/4, the 38.2 percent Fibonacci retracement on a shorter downtrend from the May 9 high of $5.14-3/4 to $3.18-1/4.A further drop ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln