02062016Sat
Last update: Sat, 06 Feb 2016 04pm

Asia

Markets - Commodities - Asia

Spot gold may revisit low of $1,280.40 SINGAPORE: Spot gold may revisit its Aug. 1 low of $1,280.40 per ounce, as indicated by its wave pattern and a Fibonacci projection analysis.The rebound from this low could be driven by a wave d, the fourth wave of a bigger wave C which may consist of five waves in total.The Fibonacci projection analysis on the target of the wave C reveals a resistance at $1,298, which may stop the wave d from extending.The fifth wave, labelled e, may have started, unfolding towards $1,280.40. A break above $1,298 may only trigger a limited gain to $1,304, the 38.2 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 ...

Markets - Commodities - Asia

LME copper to test support at $7,043 SINGAPORE: LME copper may test a support at $7,043 per tonne, a break below which will lead to a further loss to $7,006. The support is provided by the 61.8 percent Fibonacci projection level of a downward wave C that developed from the July 25 high of $7,198.25. This wave is capable of travelling to $6,946, the 100 percent projection level. However, a more realistic target could be $7,006, the 76.4 percent level. Resistance is ...

Markets - Commodities - Asia

LME aluminium to approach resistance at $2,043 SINGAPORE: LME aluminium may approach a resistance at $2,043 per tonne, as it remains within a rising channel. The lower channel line of which has established a support, holding the fall from the July 22 high of $2,054.75. Wave pattern suggests the fall could be labelled as a wave 4, which will be totally reversed by an upward wave 5. However, a drop below the Aug. 1 low of $1,968 will signal an escape from ...

Markets - Commodities - Asia

Wheat up for 4th day on concerns over European crop damage SINGAPORE: Chicago wheat gained 1.5 percent on Monday, rising for a fourth consecutive session as concerns over crop-damage in Europe's key exporting countries prompted investors to buy US wheat.Corn rose around half a percent, snapping a two-session losing streak, while soybeans edged higher as the market recouped some of Friday's deep losses. Chicago Board Of Trade September wheat rose 1.5 percent to $5.42-1/4 a bushel by 0235 GMT after climbing to $5.44 a bushel on ...

Markets - Commodities - Asia

Shanghai copper poised to break support at 50,100 yuan SINGAPORE: Shanghai copper is poised to break a support at 50,100 yuan per tonne before falling more to 49,750 yuan, driven by a wave C.This wave started at the July 25 high of 51,100 yuan and is capable of travelling towards the July 21 low of 49,190 yuan. A falling channel seems to have defined the range of the wave C, and the lower channel line points 49,750 yuan, the 23.6 percent retracement on the ...

Markets - Commodities - Asia

Palm oil targets 2,200 ringgit SINGAPORE: Palm oil is expected to break a support at 2,250 ringgit per tonne and fall more towards 2,220 ringgit, driven by wave 5. This is the final wave of a five-wave cycle that developed from the June 25 high of 2,511 ringgit. This wave could travel a similar distance as the preceding wave 1, to reach a level much lower than 2,220 ringgit, the 161.8 percent Fibonacci projection level of the wave 3. The ...

Markets - Commodities - Asia

Gold holds above $1,290 on waning rate hike fears, weak equities SINGAPORE: Gold found good support above $1,290 an ounce on Monday as surprisingly weak US jobs data diminished fears that the Federal Reserve will raise interest rates soon, and as weaker stocks prompted some safe-haven bids.Data on Friday showed US job growth slowed in July and the unemployment rate unexpectedly rose, pointing to slack in the labour market. Nonfarm payrolls increased 209,000 last month, while economists had expected a 233,000 gain.The data supports the Fed's ...