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LME aluminium to fall to 2,002 SINGAPORE: LME aluminium is expected to drop to $2,002 per tonne, as it has failed to break a resistance at $2,029.The resistance has been identified as the 61.8 percent Fibonacci retracement on the fall from the Sept. 8 high of $2,118 to the Oct. 2 low of $1,885. The metal's failure to overcome this barrier signals the completion of a rising wedge that developed from $1,885.The immediate support will be at $2,002, the 50 percent retracement, a break below which will lead to a further loss to $1,974, 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 or legal advice regarding the products mentioned in the analyses.Copyright Reuters, 2014 ...

Palm oil to rise to 2,340 ringgit SINGAPORE: Palm oil is expected to rise to 2,340 ringgit per tonne, as it has cleared a resistance at 2,295 ringgit. The resistance was provided by the 61.8 percent Fibonacci projection level of an upward wave C that developed from the Oct. 16 low of 2,104 ringgit. This wave will extend a three-wave cycle that rose from the Sept. 2 low of 1,914 ringgit. The next resistance will be at 2,340 ringgit, the 76.4 percent ...
Shanghai copper to retrace to 47,330 yuan SINGAPORE: Shanghai copper third month is expected to retrace to 47,330 yuan per tonne, as it failed to break a resistance at 47,980 yuan.The resistance is provided by the 38.2 percent Fibonacci retracement on the fall from the Aug. 25 high of 50,750 yuan to the Oct. 17 low of 46,270 yuan. A correction has been triggered, towards the 23.6 percent retracement at 47,330 yuan.A break above 47,980 yuan could lead to a further gain ...
CBOT soybeans may rise more to $10.91-1/2 SINGAPORE: CBOT soybeans November contract may break a resistance at $10.47-1/4 per bushel and rise further to $10.91-1/2.The resistance is provided by the 38.2 percent retracement on the fall from the May 22 high of $12.79 to the Oct. 1 low of $9.04. The fast rise from the Oct. 27 low of $9.67-3/4 has been driven by a very strong bullish momentum, which may push soybeans above this resistance.The next resistance will be at $10.91-1/2, ...
Palm prices to rise to 2,500 ringgit by March as output eases KUALA LUMPUR: Palm oil prices may have bottomed out and will likely trade between 2,100-2,300 ringgit per tonne ($641-$703) in the next few weeks before rising to 2,500 ringgit by March, as output weakens and stocks ease, leading analyst Dorab Mistry said.Benchmark palm oil prices had plunged almost 28 percent over the first eight months this year as Malaysia's stocks of the tropical oil surged to a more than one-year top above 2 million tonnes, ...
Palm surges to near 12-week high as soyoil, Malaysia policy support JAKARTA: Malaysian palm oil climbed to its highest level in almost 12 weeks on Wednesday, supported by gains in competing oilseed markets and on expectations the country's palm oil demand would increase because of a new biodiesel policy, traders said.In competing vegetable oil markets, the U.S. soyoil contract for December edged up 1.65 percent in early Asian trade, while the most active January soybean oil contract on the Dalian Commodities Exchange rose 2.12 percent.Malaysia announced ...
Grains prices rise on concerns about US soymeal shortage HAMBURG/SINGAPORE: Chicago soybeans and corn rallied on Wednesday on concerns that farmers are selling little of the new US soybean crop, seriously reducing supply at crushing mills and pushing up soymeal prices.Wheat firmed on spillover support from soybeans and corn plus unfavourable weather in some leading wheat exporting countries."The markets are being supported by the quite phenomenal rally we are seeing in soymeal, which is creating spillover buying in soybeans, corn and wheat," said Ole ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln