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NY coffee to test resistance at $1.9430 SINGAPORE: New York December coffee is expected to test a resistance at $1.9430 per lb, as its fall from the Oct. 13 high of $2.2545 has completed.The fall has adopted a five-wave mode, and all the five waves have unfolded. A more convincing signal is that the fifth wave labelled 5 has bottomed around a support at $1.8690, the 61.8 Fibonacci retracement on the rise from the July 15 low of $1.6310 to $2.2545.Coffee is rebounding to the 50 percent level at $1.9430, the 50 percent level, a break above which will lead to a further gain towards $2.0165, 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 business, financial ...

NY sugar may rise to 16.43 cents SINGAPORE: New York March sugar may break a resistance at 16.19 cents per lb and rise more to 16.43 cents, as indicated by its wave pattern and a Fibonacci projection analysis.A correction from the Oct. 9 high of 17.20 cents has completed, as a Fibonacci projection analysis reveals that the first and third component waves of the correction, labelled a and c respectively, are roughly equal in length.The analysis also reveals a resistance at 16.19 ...
Gold holds near $1,230 ahead of Fed SINGAPORE: Gold steadied near $1,230 an ounce on Wednesday, clinging to modest gains from the previous session, ahead of the next guidance from the Federal Reserve on whether it will hike US interest rates sooner or keep them lower for longer. The Fed wraps up its two-day policy meeting later on Wednesday and is expected to end its bond purchases amid signs of strength in the US economy. But policymakers will likely reinforce its stated ...
CBOT soybeans still target $10.47-1/4 SINGAPORE: A bullish target at $10.47-1/4 per bushel remains unchanged for CBOT soybeans November contract as indicated by its wave pattern and a Fibonacci retracement analysis.The gain from the Oct. 1 low of $9.04 followed the completion of a five-wave cycle that developed from the May 22 high of $12.79. A Fibonacci retracement analysis on the cycle reveals soybeans have cleared a resistance at $9.92-1/2, the 23.6 percent level and approached the next resistance at ...
Shanghai copper to rise to 48,120 yuan SINGAPORE: Shanghai copper third month may rise to 48,120 yuan per tonne, as it has cleared a resistance at 47,420 yuan.The resistance was provided by the 14.6 percent Fibonacci projection level of an upward wave c, which started at the Oct. 17 low of 46,270 yuan and is presumably the third wave of a three-wave cycle that developed from the March 12 low of 43,740 yuan.The next resistance will be at 48,120 yuan, the 23.6 ...
Palm oil to rise to 2,259 ringgit SINGAPORE: Palm oil is expected to rise to 2,259 ringgit per tonne, as it has cleared a resistance at 2,222 ringgit.The resistance was provided by the 38.2 percent Fibonacci projection level of an upward wave C that developed from the Oct. 16 low of 2,104 ringgit. This is the third wave of a three-wave cycle that rose from the Sept. 2 low of 1,914 ringgit.The next resistance will be at 2,259 ringgit, the 50 percent ...
Corn dips from 3-mth peak on farmer selling, hopes for rapid harvest SINGAPORE: Chicago corn edged lower on Wednesday, easing from its highest in more than three months on farmer selling and forecasts of harvest-friendly weather across the US Midwest.Wheat eased after climbing 1.5 percent on Tuesday on support from unfavourable weather in key wheat exporting countries.FUNDAMENTALSSpot corn and soybean basis bids weakened in parts of the US Midwest as crop sales by farmers pressured cash prices, grain merchants said. Multi-year low corn and soybean prices had ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln