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CBOT wheat to end rebound below $6.61-1/4 SINGAPORE: CBOT September wheat is expected to end its rebound from $6.51-1/4 below resistance at $6.61-1/4 per bushel and continue its drop from the Aug. 26 high of $6.65.The depth of the fall from $6.65 indicates a reversal of the uptrend, which has been driven by a wave C from the Aug. 23 low of $6.28-1/2. Wave C unfolded its five component waves when it approached its ultimate target at $6.67, the 161.8 percent projection level.With the completion of wave C, the whole bigger three-wave cycle starting from the Aug. 14 low of $6.23 has ended as well.The current weak rebound has been triggered by support at $6.52-1/4, the 100 percent projection level, which may be re-tested soon.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 ...

NY sugar may seek support at 16.50 cents SINGAPORE: New York October sugar faces a resistance at 16.65 cents per lb, and may retrace to 16.50 cents to seek a support.The resistance is provided by the 38.2 percent Fibonacci retracement on the fall from the Aug. 13 high of 17.29 cents to the Aug. 22 low of 16.26 cents, only a break above which could trigger a further gain to 50 percent level at 16.77 cents.Sugar has easily broken above the former resistance ...
LME aluminium to retest support at $1,879 SINGAPORE: LME aluminium is expected to retest support at $1,879 per tonne, a break below which will lead to a further loss to $1,853.Support is provided by the 61.8 percent Fibonacci projection level of a downward wave c, blocking the way towards the 100 percent projection level at $1,853.The downtrend from the Aug. 19 high of $1,949 seems to have been confined within a falling channel, the lower channel line of which points a target ...
Shanghai copper to drop to 51,780 yuan SINGAPORE: Shanghai copper has peaked around resistance at 53,780 yuan per tonne and is expected to drop to 51,780 yuan.Resistance is provided by the 161.8 percent Fibonacci projection level of an upward wave C, which has completely unfolded its five component waves.The 100 percent projection level will provide support, which may temporarily stop the fall or probably trigger a moderate rebound.A bearish divergence on the hourly RSI indicates a small chance for wave C to ...
Palm oil still targets 2,491 ringgit SINGAPORE: A bullish target at 2,491 ringgit per tonne remains unchanged for Malaysian palm oil, as it has cleared a resistance at 2,407 ringgit.The former resistance was provided by the 76.4 percent Fibonacci retracement on the fall from 2,491 ringgit to 2,137 ringgit. There will be no other resistance to stop the rise until palm oil reaches 2,491 ringgit.The wave pattern suggests a progressing wave c towards 2,516 ringgit, its 100 percent Fibonacci projection level. ...
CBOT soybeans likely to drop to $13.71-1/4 SINGAPORE: CBOT soybeans November looks shaky and is expected to test a support at $13.71-1/4 per bushel.The rise from $12.85, an hourly chart low touched on Aug. 22, could be subdivided into five small waves, indicating the surge from this low is ending. The bearish divergence on the hourly RSI further suggests the completion of the cycle.A Fibonacci retracement analysis on the rise from $12.85 to $13.98 reveals a support at $13.71-1/4, the 23.6 percent ...
CBOT corn to rise to $5.32-1/4 SINGAPORE: CBOT September corn is expected to rise to $5.32-1/4 per bushel as it has broken a resistance at $5.13-1/2.There is little doubt that the rebound from the Aug. 13 low of $4.53-3/4 is against a preceding downtrend that started at the June 19 high of $6.10-3/4.The resistance at $5.13-1/2 was provided by the 38.2 percent Fibonacci retracement on the fall from $6.10-3/4 to $4.53-3/4. The next resistance will be at $5.32-1/4, the 50 percent ...


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln