07302016Sat
Last update: Sat, 30 Jul 2016 02pm

Americas

Markets - Commodities - Americas

CBOT wheat may bounce more to $4.36-1/2 SINGAPORE: CBOT September wheat may bounce more to $4.36-1/2 per bushel, as it has broken a resistance at $4.25.The resistance was provided by the 14.6 percent Fibonacci retracement on the fall from the June 8 high of $5.33-3/4 to the July 20 low of $4.06-1/2. The next resistance will be at $4.36-1/2, the 23.6 percent level.Instead of surging further, wheat may pull back towards a trendline descending from $5.33-3/4 when it reaches $4.36-1/2. A break below $4.25, now a support, could cause a loss to $4.15-1/4, the 7 percent level.Copyright Reuters, 2016 ...

Markets - Commodities - Americas

NY sugar may test resistance at 19.88 cents SINGAPORE: New York Oct. sugar may test a resistance at 19.88 cents per lb, as it has broken a lower resistance at 19.56 cents.These resistances are identified respectively as the 50 percent and the 61.8 percent Fibonacci retracements on the uptrend from the June 24 low of 18.53 to the June 30 high of 21.22 cents.For the second time, sugar has pierced above a trendline falling from the July 5 high of 21.10 cents, signalling ...

Markets - Commodities - Americas

Brazil coffee stocks down 5.4pc from year ago SAO PAULO: Brazilian coffee stocks in private hands were estimated at 13.59 million 60-kilogram bags on March 31, down 5.4 percent from the 14.37 million bags a year earlier, government crop supply agency Conab said on Friday. Of those stocks, 12.47 million were arabica coffee and 1.12 were robusta, Conab said in a report. Copyright Reuters, 2016 ...

Markets - Commodities - Americas

NY sugar may retest support at 19.16 cents SINGAPORE: New York Oct. sugar may retest a support at 19.16 cents per lb, as it could have completed a bounce caused by this barrier.The support is provided by the 76.4 percent Fibonacci retracement on the uptrend from the June 24 low of 18.53 to the June 30 high of 21.22 cents. The bounce caused by this support failed to extend above a resistance at 19.88 cents.The resistance is provided by the 50 percent Fibonacci ...

Markets - Commodities - Americas

NY coffee may test support at $1.4470 SINGAPORE: New York September coffee may test a support at $1.4470 per lb, a break below which could cause a loss to the next support at $1.4230.The support is provided by the 50 percent Fibonacci retracement on the uptrend from the June 27 low of $1.3460 to the July 15 high of $1.5480.The bounce caused by the support has been shaped into a triangle, which could be a typical continuation pattern. It is expected to ...

Markets - Commodities - Americas

CBOT soybeans to fall to $9.80 SINGAPORE: CBOT soybeans November contract may break a support at $9.96-1/2 per bushel and fall more to the next support at $9.80, as suggested by its wave pattern and a Fibonacci projection analysis.The contract is riding on downward wave C, the third wave of a three-wave cycle from the June 13 high of $11.86-1/4. This wave is capable of travelling to $9.57-3/4, its 100 percent projection level.A more realistic target could be $9.80, the 86.4 ...

Markets - Commodities - Americas

CBOT corn may drop to $3.28-1/2 SINGAPORE: CBOT December corn may drop to $3.28-1/2 per bushel as it has broken a support at $3.40-1/2.The support is provided by the 38.2 percent Fibonacci projection level of a downward wave C, the third wave of a three-wave cycle from the June 17 high of $4.49. This wave is capable of traveling to $3.16-1/4, its 61.8 percent Fibonacci projection level. A more realistic target could be $3.28-1/2, the 50 percent level.Resistance is at $3.46, ...