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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 $10.47-1/4, the 38.2 percent level.Another Fibonacci retracement analysis on the fall from the July 29 high of $11.16-1/2 to $9.04 confirms that the fall from the Oct. 28 high of $10.34-1/2 was a pullback towards $10.10-1/4, the 50 percent level. The short uptrend from $9.04 remains steady.** 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, ...

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 ...
US oil to rise to $82.63 SINGAPORE: US oil is expected to rise to $82.63 per barrel as it has broken resistance at $81.41.Resistance was provided by the 14.6 percent Fibonacci retracement on the fall from the Oct. 1 high of $92.96 to the Oct. 27 low of $79.44. Wave pattern suggests the development of an upward wave (4), the fourth wave of a five-wave cycle that started at the Sept. 30 high of $94.90.This wave is capable of traveling into ...
Spot gold neutral in $1,222.20-$1,235 range SINGAPORE: Spot gold looks neutral in a range of $1,222.20-$1,235 per ounce, and an escape will point a direction.The range has been formed by the Oct. 28 low and the 38.2 percent Fibonacci retracement on the fall to this low from the Oct. 21 high of $1,255.20.A rise above $1,235 will be extended to $1,243, the 61.8 percent retracement, while a fall below $1,222.20 will signal a continuation of the preceding downtrend from $1,255.20, towards ...
LME copper targets $6,870 SINGAPORE: LME copper may rise further towards $6,870 per tonne, after a shallow correction to $6,740.The rise from the Oct. 17 low of $6,530 has been presumed to be driven by a wave c, the third wave of a three-wave cycle that developed from the March 19 low of $6,321.A Fibonacci projection analysis reveals the metal has cleared a resistance at $6,740, the 23.6 percent level and could be advancing towards the 38.2 percent level ...

 



 
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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