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LME copper to retest support at $6,604 SINGAPORE: LME copper is expected to test a support at $6,604 per tonne, a break below which will lead to a further loss to $6,524. The support is identified as the 114.6 percent Fibonacci projection level of a downward wave (c) that started at the Sept. 16 high of $6,992. This wave seems to have resumed, following the sharp fall from the Oct. 14 high of $6,825. A drop to $6,596 may confirm both a break below the support and the target at $6,524, the 138.2 percent level. A further rebound from the current level could be limited to $6,680. 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 other advisers for business, financial or legal advice regarding the products mentioned in the analyses. Copyright Reuters, 2014

London copper holds ground, but economic growth worries drag SYDNEY: London copper held its ground on Thursday after logging its biggest daily fall in six months the session before, with mounting concerns over global growth stoking selling across other metals. US retail sales declined in September as consumers pulled back on spending for a range of items, a worrisome economic signal that helped fuel a sell-off on Wall Street. The rout extended to commodities, with nickel, zinc and lead on the London Metal Exchange ...

Corn rebounds from sharp losses, dry weather f'cast caps gains SYDNEY: US corn futures edged higher on Thursday after losses of more than 2.5 percent in the previous session, but gains were capped by forecasts of dry weather that should help harvesting.Wheat rose, drawing support from a weaker US dollar, while soybean prices edged lower.Chicago Board of Trade front-month corn futures climbed 0.36 percent to $3.48-3/4 a bushel, having closed down 2.7 percent the day before.Corn has drawn support from a weaker dollar, which makes ...

Palm oil to test support at 2,105 ringgit SINGAPORE: Palm oil is expected to test a support at 2,105 ringgit per tonne, a break below which will lead to a further loss to 2,069 ringgit. The support is provided by the 38.2 percent Fibonacci retracement on the rise from the Sept. 2 low of 1,914 ringgit to the Oct. 1 high of 2,223 ringgit, blocking the way towards the 50 percent retracement at 2,069 ringgit, the 50 percent level. A further rebound from ...

Flight to safety keeps gold near one-month high SINGAPORE: Gold retained sharp overnight gains on Thursday to trade near its highest in over a month, with investors seeking safety amid increasing concerns over a slump in the global economy.Spot gold was steady at $1,240.15 an ounce by 0328 GMT. The metal rose to its highest since Sept. 11 at $1,249.30 in the previous session, before paring some gains to close up 0.7 percent.Asia extended a selloff in global equities on Thursday. The dollar ...

CBOT soybeans to rebound to $9.61 before falling again SINGAPORE: CBOT soybeans November contract is expected to rebound moderately to $9.61 per bushel, before falling towards a support at $9.50, as indicated by its wave pattern and a Fibonacci retracement analysis.A three-wave cycle from the Oct. 1 low of $9.04 seems to be over, as its third component wave labelled C could be divided into five smaller waves. A Fibonacci retracement analysis on the cycle reveals support at $9.50, the 38.2 percent level, which ...

LME aluminium signals mixed SINGAPORE: Signals are mixed for LME aluminium as it has managed to hover around support at $1,919 per tonne.Support is identified as the 14.6 percent Fibonacci retracement on the fall from the Aug. 29 high of $2,119.50 to $1,885. A break below this barrier will confirm a continuation of the correction from the Oct. 9 high of $1,969, towards the Oct. 2 low of $1,885.In the meantime, an extension of the rebound from $1,885 will ...


Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln