12032016Sat
Last update: Sat, 03 Dec 2016 05am

Americas

Markets - Commodities - Americas

CBOT soybeans may revisit April 25 high of $10.20 SINGAPORE: CBOT soybeans May contract may revisit its April 25 high of $10.20 per bushel, as it could have resumed its uptrend.The resumption has been indicated by the sharp surge from the April 25 low of $9.77-1/4. The uptrend has been temporarily disrupted by the resistance at $10.17-3/4, the 176.4 percent Fibonacci projection level of an upward wave c, which is the third wave of a three-wave cycle from the March 2 low of $8.56.The correction caused by this resistance seems to have more or less finished around a support at $9.92-1/2, the 138.2 percent level. The contract may stabilise around this level and seek a chance of retesting $10.17-3/4.Copyright Reuters, 2016 ...

Markets - Commodities - Americas

CBOT corn to revisit April 25 high of $3.85 SINGAPORE: CBOT corn is expected to revisit its April 25 high of $3.85 per bushel, as it could have resumed its uptrend.The resumption has been signalled by corn's failure to break the trendline rising from the April 1 low of $3.47-1/4. Further confirmation has been given by the sharp surge on April 25.Corn is expected to seek a support around $3.73-1/2, the 61.8 percent Fibonacci retracement on the uptrend from the April 11 low of ...

Markets - Commodities - Americas

CBOT wheat may retest resistance at $4.77-1/4 SINGAPORE: CBOT wheat may retest a resistance at $4.77-1/4 per bushel, as indicated by its wave pattern and a Fibonacci projection analysis.The contract is riding on a wave C, the third wave of a three-wave cycle from the April 11 low of $4.46. This wave has been temporarily disrupted by the resistance at $4.77-1/4, its 23.6 percent Fibonacci projection level.The correction triggered by the resistance could have more or less completed around a support at ...

Markets - Commodities - Americas

NY sugar targets 15.95 cents SINGAPORE: New York sugar may break a resistance at 15.72 per lb and rise further towards the next resistance at 15.95 cents, as suggested by its wave pattern and a Fibonacci projection analysis.These resistances are identified respectively as the 61.8 percent and the 76.4 percent Fibonacci retracement 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 to test resistance at $1.2465 SINGAPORE: New York July coffee is expected to test a resistance at $1.2465, as it has stabilized around a support at $1.2265 per lb.The resistance and the support are identified respectively as the 38.2 percent and the 50 percent Fibonacci projection levels of a downward wave c, the third wave of a three-wave cycle from the March 23 high of $1.3820.A break above $1.2465 could open the way towards the 23.6 percent level at $1.2720, ...

Markets - Commodities - Americas

NY July cocoa still targets $3,250 SINGAPORE: New York July cocoa may rise to $3,250 per tonne, as it has cleared a resistance at $3,154. The resistance was provided by the 61.8 percent Fibonacci retracement on the downtrend from the Dec. 7, 2015 high of $3,406 to the Jan. 28, 2016 low of $2,746. The next resistance will be at $3,250, the 76.4 percent level.Wave pattern suggests cocoa is riding on a wave c, the third wave of a three-wave cycle ...

Markets - Commodities - Americas

CBOT corn rallies but ends below session highs CHICAGO: Chicago Board of Trade corn futures rose 2 percent on Monday on concerns about rain in the US Midwest slowing farmers who have had a quick start in planting this year's crop, traders said.Short-covering also lent support to Monday's gains following two days of sharp declines to close out last week.Technical resistance was noted near Friday's highs in all corn contracts across the board and prices closed below session highs.Strong export demand contributed to ...