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Spot gold neutral around $1,076 SINGAPORE: Spot gold looks neutral around a support at $1,076 per ounce, and an escape from a narrow range of $1,064.95-$1,087.41 will point a direction.The support is provided by the 50 Fibonacci projection level of a downward wave C, the third wave of a three-wave cycle from the Jan. 22 high of $1,306.20. Gold seems to have stabilized around this barrier. A rise above the Nov. 20 high of $1,087.41 could be extended to the 38.2 percent level at $1,103, while a fall below $1,064.95 could confirm the continuation of the wave C towards $1,049. The bias could be towards the upside.Copyright Reuters, 2015 ...

LME aluminium may end bounce in $1,462-$1,475 range SINGAPORE: LME aluminium may end its bounce from the Nov. 23 low of $1,432.50 per tonne in a narrow range of $1,462-$1,475 before falling, as indicated by a Fibonacci projection analysis and a falling wedge.The range is formed by the 161.8 percent and the 150 percent Fibonacci projection levels of a downward wave (C), the third wave of a three-wave cycle from the Sept. 9 high of $1,655.50.This wave has been unfolding within a wedge, ...
Shanghai copper may fall to 33,640 yuan SINGAPORE: Shanghai copper may break a support at 34,180 yuan per tonne and fall to the next support at 33,640 yuan, as the bounce from the Nov. 24 low of 33,150 yuan could have completed.The bounce has been driven by a wave iv, the fourth wave of a five-wave cycle from the Oct. 15 high of 40,200 yuan. This wave seems to have peaked around 34,810 yuan, the 23.6 percent Fibonacci retracement on the fall ...
Palm oil to fall to 2,233 ringgit SINGAPORE: Palm oil may break support at 2,262 ringgit per tonne, and fall to the next support at 2,233 ringgit, driven by a wave C.This is the third wave of a three-wave cycle from the Sept. 29 high 2,460 ringgit. It is capable of travelling to 2,140 ringgit, the 100 percent Fibonacci projection level. At least, it may extend to 2,233 ringgit, the 61.8 percent level.Immediate support is at 2,262 ringgit, the 50 percent level, ...
CBOT soybeans' target at $8.77-3/4 intact SINGAPORE: CBOT soybeans March contract still targets $8.77-3/4 per bushel, as it has temporarily bottomed around a support at $8.49-1/2.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 July 14 high of $10.50-1/4. A bounce has been caused towards the 23.6 percent level at $8.77-3/4.The contract has to overcome a resistance at $8.69-1/4 before climbing to $8.77-3/4. This resistance ...
CBOT corn to retest resistance at $3.73 SINGAPORE: CBOT March corn may stabilise around a support at $3.69-1/2 and then retest a resistance at $3.73 per bushel, as suggested by a falling channel and a Fibonacci projection analysis.The downtrend from the Oct. 7 high of $4.10 has been zigzagging down within the channel. The lower channel line provides a support while the upper line a resistance.Corn is yet to reach the upper channel line which is about $3.75-3/4, the 76.4 percent Fibonacci ...
CBOT wheat to fall to $4.85-1/4 SINGAPORE: CBOT March wheat is expected to break a support at $4.89 per bushel and fall to the next support at $4.85-1/4, as its downtrend from the Nov. 4 high of $5.32-3/4 has resumed.The trend is driven by a wave (5), the fifth wave of a five-wave cycle from $5.32-3/4. This wave could at least travel the Nov. 18 low of $4.82, to completely reverse a preceding wave (4) from this low.A Fibonacci retracement analysis ...


Index Closing Chg%
Arrow DJIA 17,812.19 0.11
Arrow Nasdaq 5,102.81 0.01
Arrow S&P 2,089.14 0.12
Arrow FTSE 6,277.23 0.45
Arrow DAX 10,933.99 1.43
Arrow CAC-40 4,820.28 1.41
Arrow Nikkei 19,879.81 0.23
Arrow H.Seng 22,587.63 0.35
Arrow Sensex 25,775.74 0.17

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