04302016Sat
Last update: Sat, 30 Apr 2016 08pm

Americas

Markets - Commodities - Americas

NY sugar may fall to 15.05 cents SINGAPORE: New York sugar may break a support at 15.38 per lb and fall to the next support at 15.05 cents, as it could have completed a rally from the April 13 low of 14.00 cents.The completion has been indicated by sugar's repeated failures to break the resistance at 15.70 cents, the 61.8 percent Fibonacci retracement on the fall from the March 23 high of 16.75 cents to 14.00 cents.The 50 percent level at 15.38 cents provides a temporary support, a break below which could cause a loss to the 38.2 percent level at 15.05 cents. A break above 15.70 cents may not necessarily lead to a gain to 16.10 cents, the 76.4 percent level.Copyright Reuters, 2016 ...

Markets - Commodities - Americas

NY coffee to test support at $1.2065 SINGAPORE: New York July coffee is expected to test a support at $1.2065 per lb, a break below which could cause a loss to the next support at $1.1815.The contract is riding on a wave c, the third wave of a three-wave cycle from the March 23 high of $1.3820. This wave has extended below its 50 percent Fibonacci projection level at $1.2265 and is unfolding towards the 61.8 percent level at $1.2065.At its full ...

Markets - Commodities - Americas

NY cocoa may retrace into $3,142-$3,159 range SINGAPORE: New York July cocoa may retrace into a range of $3,142-$3,159 per tonne, as indicated by its wave pattern and a Fibonacci projection analysis. The contract is riding on a wave 3, the third wave of a five-wave cycle from the April 13 low of $2,914. This wave has become a bit exhausted, as indicated by the bearish divergence on the hourly MACD and its failure to overcome a resistance at $3,215.The resistance is ...

Markets - Commodities - Americas

U.S. wheat, corn fall; soybeans settle higher CHICAGO: U.S. corn and wheat futures fell on Wednesday, setting back from two days of gains on profit taking as speculators locked in gains on recent short-covering rallies, traders said."The funds have gotten heavy long up here," said Mark Gold, managing partner with Top Third Ag Marketing in Chicago. "This is strictly a fund game. I have not seen a real fundamental reason for the break."Soybeans edged higher, supported by signs U.S. exporters were picking ...

Markets - Commodities - Americas

CBOT soybeans face resistance at $10.17-3/4 SINGAPORE: CBOT soybeans May contract faces a resistance at $10.17-3/4 per bushel, a break above which could lead to a gain to the next resistance at $10.33-1/2.These resistances are identified respectively as the 176.4 percent and the 200 percent Fibonacci projection levels of an upward wave c, the third wave of a three-wave cycle from the March 2 low of $8.56.This wave could have resumed, as signalled by the gains from the April 25 low ...

Markets - Commodities - Americas

CBOT corn to test resistance at $3.84-1/4 SINGAPORE: CBOT corn is expected to test a resistance at $3.84-1/4 per bushel, a break above which could lead to a gain to the next resistance at $3.91.These resistances are identified respectively as the 38.2 percent and the 23.6 percent Fibonacci retracements on the uptrend from the April 11 low of $3.56 to the April 21 high of $4.02.The trend from the April 1 low of $3.47-1/4 could have resumed, as signalled by corn's failure ...

Markets - Commodities - Americas

CBOT wheat may rise to $4.86-1/2 SINGAPORE: CBOT wheat may rise to $4.86-1/2 per bushel, as it has cleared a resistance at $4.77-1/4.The resistance was provided by the 23.6 percent Fibonacci projection level of an upward wave C, the third wave of a three-wave cycle from the April 11 low of $4.46.The next resistance will be at $4.86-1/2, the 38.2 percent level, a break above which could lead to a gain to the next resistance at $4.94-1/4. A break below $4.77-1/4, ...