05042016Wed
Last update: Wed, 04 May 2016 10pm

Americas

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, now a support, could cause a loss to the 14.6 percent level at $4.71-1/4.Copyright Reuters, 2016 ...

Markets - Commodities - Americas

NY sugar targets 16.10 cents SINGAPORE: New York sugar may break a resistance at 15.95 per lb and rise further towards the next resistance at 16.10 cents, as suggested by its wave pattern and a Fibonacci projection analysis.These resistances are identified respectively as the 76.4 percent and the 86.4 percent Fibonacci projection levels of an upward wave C, the third wave of a three-wave cycle from the April 13 low of 14.00 cents. This wave could eventually extend to 16.31 ...

Markets - Commodities - Americas

NY coffee may retrace to $1.2440 SINGAPORE: New York July coffee may retrace to a support at $1.2440 per lb, as it has failed to break a resistance at $1.2675.The resistance is provided by the 50 percent Fibonacci retracement on the fall from the April 21 high of $1.3120 to the April 22 low of $1.2230. It has caused a drop towards the 23.6 percent level at $1.2440.The gain from $1.2230 is classified as a bounce against the fall from $1.3120. ...

Markets - Commodities - Americas

NY cocoa's target at $3,250 intact SINGAPORE: New York July cocoa still targets $3,250 per tonne, as indicated by its wave pattern and a Fibonacci ratio analysis. The contract is riding on a wave c, the third wave of a three-wave cycle from $2,746. A Fibonacci projection analysis reveals a target of this wave at $3,253, the 100 percent level.A Fibonacci retracement analysis on the downtrend from the Dec. 7, 2015 high of $3,406 to the Jan. 28, 2016 low of ...

Markets - Commodities - Americas

Cocoa rises to 4-month highs, raw sugar breaches 16 cents NEW YORK/LONDON: Cocoa futures on ICE rose to the highest in around four months on Tuesday, with the New York market climbing for the seventh straight session on support from the firm British pound and concerns about mid-crop production in West Africa. Raw sugar's most-active contract rose above 16 cents for the first time in four weeks, but briefly turned negative as spread activity hinted to a lack of interest in the May contract ahead ...

Markets - Commodities - Americas

Gold rebounds after US durable goods data hits dollar NEW YORK/LONDON: Gold rebounded on Tuesday after weaker-than-expected US durable goods data knocked the dollar to a session low against the euro, but prices remained hemmed into a narrow range as a two-day Federal Reserve policy meeting began. Spot gold was up 0.3 percent at $1,241.66 an ounce at 2:08 p.m. EDT (1808 GMT), while US gold futures for June delivery settled up 0.3 percent at $1,243.40 an ounce. The Fed, which will release its ...

Markets - Commodities - Americas

CBOT soybeans close higher on US rain forecast CHICAGO: Chicago Board of Trade soybean futures rose 1.8 percent on Tuesday, closing near session highs, on expectations that planting progress will slow down in the coming days due to rains across the US Midwest.Additionally, analysts said that heavy rains in Argentina have caused significant crop damage in recent weeks.The May soybean contract broke through the psychologically important $10 a bushel level again but remained will below highs hit last week.Soyoil futures rose on technical ...