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CBOT soybeans to test resistance at $10.10-1/4 SINGAPORE: CBOT soybeans November contract is expected to test a resistance at $10.10-1/4 per bushel, a break above which will lead to a further gain to $10.35-1/4.The resistance is identified as the 50 percent Fibonacci retracement on the fall from the July 29 high of $11.16-1/2 to the Oct. 1 low of $9.04, blocking the way towards the 61.8 percent retracement at $10.35-1/4.Wave pattern suggests that soybeans are riding on a wave (c), which could at least travel a similar distance as the preceding wave (a), to arrive at $10.10-1/4. A drop from the current level may be limited to $9.85, the 38.2 percent level.** Wang Tao is a Reuters market analyst for commodities and energy technicals. 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 ...

CBOT corn may break resistance at $3.63 SINGAPORE: CBOT December corn may break a resistance at $3.63 per bushel and rise more towards $3.69-3/4.The resistance is provided by the 76.4 percent Fibonacci projection level of an upward wave 3 that developed from the Oct. 20 low of $3.42. It is the last barrier towards $3.69-3/4, the 100 percent projection level.The wave 3 has a fierce character and may easily break the resistance to extend further. Support is at $3.59, the 61.8 percent ...
Palm up most in four weeks on weaker ringgit, strong soyoil JAKARTA: Malaysian palm oil made its biggest gains in four weeks on Thursday, buoyed by a weakening ringgit, strong soy oil markets, and more trades to clear positions ahead of the end-of-month rollover."The market is up today on the back of soybean oil," said a trader with a foreign commodities brokerage in Kuala Lumpur, adding that the weakening of the Malaysian ringgit against the US dollar also provided support.The ringgit retreated 0.32 percent to 3.2715 ...
NY cocoa to test support at $3,064 SINGAPORE: New York December cocoa is expected to test support at $3,064 per tonne, a break below which will lead to a further loss towards $3,022.Support is provided by the 23.6 percent Fibonacci projection level of an upward wave c that developed from the Oct. 14 low of $3,022. This support continued to work even after the completion of this wave.A consolidation has been triggered and shaped into a bearish triangle, which may turn out ...
LME copper to test support at $6,604 SINGAPORE: LME copper is expected to test support at $6,604 per tonne, a break below which will lead to a further loss to $6,530.The rebound from the Oct. 17 low of $6,530 has completed and the preceding downtrend resumed, as the rebound failed to extend far beyond resistance at $6,699, the 86.4 percent Fibonacci projection level of a downward wave (c) that started at the Sept. 16 high of $6,992.Copper has pierced below support at ...
Palm oil to test resistance at 2,178 ringgit SINGAPORE: Palm oil is expected to test a resistance at 2,178 ringgit per tonne, as it has overcome a barrier at 2,150 ringgit.The barrier was identified as the 23.6 percent Fibonacci retracement on the rise from the Sept. 2 low of 1,914 ringgit to the Oct. 1 high of 2,223 ringgit. Driven by a wave (c), palm oil may break the resistance at 2,178 ringgit, the 14.6 percent level and rise further towards 2,223 ringgit.A ...
Asia cocoa butter ratios hit 14-month low on high prices, stocks JAKARTA: Asian cocoa butter ratios are trading at their lowest in more than 14 months as the market faced pressure from high butter prices, high powder stocks and sluggish chocolate consumption, traders said.Butter ratios, a key indicator of demand, were quoted as low as 2.2 times London futures, their lowest since early August 2013, although there were offers at 2.25 times. Two weeks ago, ratios stood at 2.28 to 2.35 times futures.Cocoa beans are processed ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
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WeeklyOctober 23, 2014
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