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Spot gold to retest support at $1,219 SINGAPORE: Spot gold may have completed a rebound triggered by a support at $1,219 per ounce and is expected to retest this level.The support is provided by the 161.8 percent Fibonacci projection level of a wave C that developed from the Aug. 8 high of $1,322.60. The next support will be at $1,209, the 176.4 percent level, a break below which will lead to a further loss to $1,194, the 200 percent level.Resistance is at $1,226, the 150 percent level, a break above which will signal the extension of the rebound towards $1,234, the 138.2 percent level.The views expressed are his own.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 analyses. Copyright Reuters, 2014 ...

Shanghai copper to fall to 48,430 yuan SINGAPORE: Shanghai copper is expected to fall to 48,430 yuan per tonne, as it has broken a support at 48,870 yuan.The support was provided by the 23.6 percent Fibonacci projection level of a downward wave c, the third wave of a bigger wave C. The wave c is presumed to have started at 49,580 yuan, the close price on the hourly chart on Sept. 17. The next support will be at 48,430 yuan, the 38.2 ...
Palm oil to retrace to 2,060 ringgit SINGAPORE: Palm oil failed to break a resistance at 2,150 ringgit per tonne and is expected to fall to a support at 2,060 ringgit. The resistance and the support are respectively provided by the 23.6 percent and the 14.6 percent Fibonacci retracements on the fall from the March 11 high of 2,916 ringgit to the Sept. 2 low of 1,914 ringgit. A break above 2,150 ringgit will only be confirmed when palm oil rises above ...
CBOT soybeans to drop to $9.53 SINGAPORE: A bearish target at $9.53 per bushel has been established for CBOT soybeans November contract , based on a small head-and-shoulders on the hourly chart.The pattern formed between Sept. 11 and Sept. 18, with a neckline around $9.77. It is apparent that the neckline has been broken, thus, the pattern has been confirmed.Based on the priced difference between the head and the neckline, soybeans seem to be falling towards $9.53.Resistance is at $9.69-1/2, the ...
CBOT corn to drop to $3.33-3/4 SINGAPORE: CBOT December corn may drop to $3.33-3/4 per bushel, based on its wave pattern and a Fibonacci projection analysis.Corn is riding on a wave iii, the third wave of a five-wave cycle that developed from the Sept. 16 high of $3.50-1/2. This wave is advancing towards its 161.8 percent projection level at $3.26-1/2. A more realistic target, however, could be $3.33-3/4, the 100 percent level.A trendline parallel to the lower trendline of a small ...
Gold ticks up slightly, but holds near 8-1/2 month low SINGAPORE: Gold edged up slightly on Friday but concerns remained over a rate hike in the United States and a strengthening economy, keeping the metal firmly near its lowest in 8-1/2 months.Gold came under selling pressure after the Federal Reserve indicated on Wednesday it could raise borrowing costs faster than expected when it starts moving, though it renewed its pledge to keep interest rates near zero for a "considerable time."Any increase in rates would dim ...
Tokyo futures end lower after weak China data TOKYO: Benchmark Tokyo rubber futures ended 0.4 percent lower on Thursday, reversing gains earlier in the day, after weak Chinese data rekindled worries over global rubber demand, brokers said.The benchmark rubber contract on the Tokyo Commodity Exchange (TOCOM) for February delivery fell 0.7 yen to settle at 192.2 yen ($1.77) per kg.The contract rose more than 1 percent in early Thursday trade as the yen fell to a six-year low against the dollar, but TOCOM ...


Index Closing Chg%
Arrow DJIA 17,279.74 0.08
Arrow Nasdaq 4,579.79 0.30
Arrow S&P 2,010.40 0.05
Arrow FTSE 6,837.92 0.27
Arrow DAX 9,799.26 0.01
Arrow CAC-40 4,461.22 0.08
Arrow Nikkei 16,321.17 1.58
Arrow H.Seng 24,306.16 0.57
Arrow Sensex 27,090.42 0.08

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln