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Spot gold to test resistance at $1,233 SINGAPORE: Spot gold is expected to test a resistance at $1,233 per ounce, a break above which will open the way towards $1,239.The metal is presumed to be riding on a wave c, the third wave of a three-wave cycle that developed from the Oct. 6 low of $1,183.46. A Fibonacci projection analysis reveals the resistance at $1,233, the 14.6 percent level, which blocks the way towards the 23.6 percent level at $1,239.Support is at $1,222.2, a break below which will confirm the extension of the preceding wave b towards $1,211, the 61.8 percent Fibonacci retracement on the rise from $1,183.46 to the Oct. 21 high of $1,255.20.** Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own.No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or ...


Corn, soybeans jump 2 percent on demand, fund buying CHICAGO: US corn and soybeans surged more than 2 percent on Monday, with each futures contract reversing from early losses on a short-covering rally tied to a slow harvest and strong demand for fresh supplies.The higher prices came despite favorable weather conditions for harvest in the United States, where farmers were gathering record-large corn and soy crops. Soymeal futures soared nearly 8 percent for their largest daily gains in four years.A slow start to the ...

LME copper may retrace to $6,643 SINGAPORE: LME copper faces a resistance at $6,755 per tonne and may retrace to $6,643.The resistance is provided by the 76.4 percent Fibonacci retracement on the fall from the Oct. 14 high of $6,825 to the Oct. 17 low of $6,530, and is strengthened by a similar one that has been established by the upper channel line of a falling channel.Wave pattern suggests that the rise from $6,530 has been driven by a wave 4, ...

Taiwan stocks up as foreign inflows boost sentiment TAIPEI: Taiwan stocks rebounded on Tuesday after a three-day losing streak, led by banking and semiconductor shares, buoyed by strong net buying by foreign investors in the previous session.As of 0230 GMT, the main TAIEX index rose 118.19 points to 8,745.97, after closing down 0.21 percent on Monday.Foreign investors were net buyers of Taiwan stocks in Monday's session, boosting domestic sentiment.The electronics subindex was up 1.24 percent, while the financials subindex was trading 1.9 percent ...

LME aluminium may retrace to $1,966 SINGAPORE: LME aluminium faces a resistance at $1,985 per tonne and may retrace to $1,966.The resistance is provided by the 23.6 percent Fibonacci retracement on the rise from the Oct. 2 low of $1,885 to the Oct. 22 high of $2,015.75.The gain from the Oct. 24 low of $1,953 could have contributed to the formation of the right shoulder of a head-and-shoulders. Chances are, this gain may be totally reversed in due course.A further rise ...

Shanghai copper may drop to 47,050 yuan SINGAPORE: Shanghai copper third-month may drop to 47,050 yuan per tonne, as it faces a resistance at 47,520 yuan.The resistance is provided by the 23.6 percent Fibonacci retracement on the fall from the July 4 high of 51,580 yuan to the Oct. 17 low of 46,270 yuan. This barrier caused a drop towards the 14.6 percent level at 47,050 yuan on Oct. 27 and may trigger another one.A rise to 47,640 yuan may signal a ...

Palm oil neutral in 2,164-2,195 ringgit range SINGAPORE: Palm oil looks neutral in a range of 2,164-2,195 ringgit per tonne, and an escape will point a direction.The range has been formed by the 50 percent and the 76.4 percent Fibonacci retracements on the fall from 2,223 ringgit to the Oct. 16 low of 2,104 ringgit. A drop below 2,164 ringgit will be extended to 2,132 ringgit, the 23.6 percent retracement.However, the bias seems to be towards the upside, which means palm oil ...


 



 
Index Closing Chg%
Arrow DJIA 17,195.42 1.30
Arrow Nasdaq 4,566.14 0.37
Arrow S&P 1,994.65 0.62
Arrow FTSE 6,463.55 0.15
Arrow DAX 9,114.84 0.35
Arrow CAC-40 4,141.24 0.74
Arrow Nikkei 15,658.00 1.67
Arrow H.Seng 23,702.04 1.49
Arrow Sensex 27,346.33 0.92





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln