02142016Sun
Last update: Sun, 14 Feb 2016 09pm

Asia

Markets - Commodities - Asia

NY coffee to drop to $1.1090 SINGAPORE: New York March coffee is expected to drop to $1.1090 per lb, as indicated by its wave pattern and a Fibonacci projection analysis.The contract is riding on a wave 5, the fifth wave of a five-wave cycle from the Dec. 7 high of $1.2830. It seems coffee's move has been controlled by various Fibonacci projection levels, based on the length of the first wave labelled 1.The immediate support is at $1.1260, the 123.6 percent level, which temporarily holds the fall towards the 138.2 percent level at $1.1090. Resistance is at $1.1360, the 114.6 percent level, a break above which could lead to a gain to the 100 percent level at $1.1530.No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the ...

Markets - Commodities - Asia

LME copper may approach resistance at $4,501 again SINGAPORE: LME copper may approach resistance at $4,501 per tonne again, as it failed to break support at $4,445. Resistance and support are identified respectively as the 100 percent and the 138.2 percent Fibonacci projection levels of a downward wave (3), the third wave of a three-wave cycle from the Feb. 4 high of $4,720. Wave pattern suggests that a break above $4,501 could be unlikely, as copper is under a consolidation phrase and will ...

Markets - Commodities - Asia

LME aluminium may consolidate in $1,480-$1,499 range SINGAPORE: LME aluminium may consolidate in a narrow range of $1,480-$1,499 per tonne for one day before falling again, as indicated by a Fibonacci projection analysis. The range is formed by the 23.6 percent and the 38.2 percent Fibonacci projection levels of an upward wave C, the third wave of a three-wave cycle from the Nov. 23 low of $1,432.50. This wave, together with the preceding two waves labelled B and A, has made up ...

Markets - Commodities - Asia

Palm oil to climb to 2,672 ringgit SINGAPORE: Palm oil is expected to climb to 2,672 ringgit per tonne, as it has cleared a resistance at 2,585 ringgit. The resistance was provided by the 61.8 percent Fibonacci projection level of an upward wave C, the third wave of a three-wave cycle from the Aug. 25, 2015 low of 1,863 ringgit. This wave is capable of travelling to 2,813 ringgit, its 100 percent projection level. The next resistance will be at 2,672 ringgit, ...

Markets - Commodities - Asia

Iron ore slips ahead of China's return amid tough steel market, glut MANILA: Iron ore futures and swaps in Singapore drifted lower this week in thin trading with China on Lunar New Year holiday, suggesting a near-8 percent rally in spot prices before the break was either a blip or would be tough to follow. Spot iron ore scored its best week in nine months last week as traders took positions expecting a stronger market when the Chinese return next week. But analysts say many may end ...

Markets - Commodities - Asia

CBOT soybeans to rise to $8.78 SINGAPORE: CBOT soybeans March contract is expected to rise to $8.78 per bushel, as it has cleared a resistance at $8.74-1/2.The resistance was provided by the 50 percent Fibonacci retracement on the fall from the Feb. 2 high of $8.89-1/2 to the Feb. 9 low of $8.59-1/2.The next resistance will be at $8.78, the 61.8 percent level, a break above which could lead to a gain to the 76.4 percent level at $8.82-1/4.A sudden fall ...

Markets - Commodities - Asia

Soybeans rise to a 1-week high as market eyes China's return SINGAPORE: Chicago soybeans climbed to a one-week high on Friday, rising for a second session on support from strong demand for US exports as the market eyes the return of Chinese buyers to make further purchases.Wheat edged higher but the market is on track for a second weekly decline because of pressure from ample global supplies while corn hovered near a one-month low on falling demand.Chicago Board Of Trade most-active soybeans are up 0.9 percent ...