07272016Wed
Last update: Wed, 27 Jul 2016 06pm

Americas

Markets - Commodities - Americas

NY sugar to retest support at 19.16 cents SINGAPORE: New York Nov. sugar is expected to retest a support at 19.16 cents per lb, a break below which could cause a loss to the next support at 18.80 cents.The contract is riding on a wave C, the third wave of a three-wave cycle from the June 30 high of 21.22 cents. This wave is capable of traveling to 18.80 cents, its 100 percent projection level.A Fibonacci retracement on the uptrend from the June 24 low of 18.53 cents to 21.22 cents reveals a support at 19.16 cents, the 76.4 percent level, which has temporarily stopped the fall.The bounce caused by the support may end in the narrow resistance zone of 19.48-19.56 cents, formed by the 61.8 percent projection and 61.8 percent retracement levels.Copyright Reuters, 2016 ...

Markets - Commodities - Americas

NY coffee may fall to $1.4470 SINGAPORE: New York Sept. coffee may break a support at $1.4710 per lb, and fall more to the next support at $1.4470, as suggested by its wave pattern and a Fibonacci projection analysis.For a chart: http://tmsnrt.rs/29HrC7gA three-wave cycle from the June 27 low of $1.3460 has completed, as indicated by the deep fall from the July 15 high of $1.5480. A Fibonacci retracement analysis on the cycle reveals two supports, provided by the 38.2 percent ...

Markets - Commodities - Americas

CBOT soybeans may retest support at $10.40-1/2 SINGAPORE: CBOT soybeans November contract may retest a support at $10.40-1/2 per bushel, a break below which could cause a loss to the next support at $10.21.These supports are identified respectively as the 50 percent and the 61.8 percent Fibonacci projection levels of a downward wave C, the third wave of a three-wave cycle from the June 13 high of $11.86-1/4.At its full capacity, this wave could travel to $9.57-3/4, the 100 percent projection level. ...

Markets - Commodities - Americas

CBOT corn neutral in $3.58-3/4 to $3.63 range SINGAPORE: CBOT Dec. corn looks neutral in a range of $3.58-3/4 to $3.63 per bushel, and an escape will point a direction.The range is formed by the 61.8 percent and the 50 percent Fibonacci retracements on the uptrend from the July 6 low of $3.46 to the July 14 high of $3.80. A break above $3.63 could lead to a gain to $3.67, the 38.2 percent level.However, the wave pattern suggests a downside bias, as ...

Markets - Commodities - Americas

CBOT soybeans may bounce to $10.84 SINGAPORE: CBOT soybeans November contract may bounce to a resistance at $10.84 per bushel, as it has failed to break a support at $10.60.The support and the resistance are identified respectively as the 61.8 percent and the 38.2 percent Fibonacci retracements on the rise from the July 8 low of $10.21 to the July 14 high of $11.23.The bounce caused by the support could be strong enough to extend to $10.84, due to the sharp ...

Markets - Commodities - Americas

CBOT corn may bounce to $3.71-3/4 SINGAPORE: CBOT Dec. corn may bounce to a resistance at $3.71-3/4 per bushel, as suggested by a Fibonacci retracement analysis.The analysis is on a corrective wave cycle from the July 6 low of $3.46. It reveals a support at $3.63, the 50 percent retracement, which has caused the bounce. It also marks a resistance at $3.67, the 38.2 percent level, which has been pierced above.The next resistance will be at $3.71-3/4, the 23.6 percent level, ...

Markets - Commodities - Americas

CBOT wheat may drop to $4.23-3/4 SINGAPORE: CBOT Sept. wheat may drop to $4.23-3/4 per bushel, as it could have completed a bounce from the July 5 low of $4.15-3/4.The bounce could be divided into three waves, with the third wave labelled c having travelled a similar distance as the first wave labelled a. Wave theory indicates the bottom of the second wave labelled b at $4.23-3/4 is likely to be approached.Resistance is at $4.39-3/4, the 61.8 percent Fibonacci projection level ...