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Shanghai copper to end rebound around 46,790 yuan SINGAPORE: Shanghai copper may end its current rebound around a resistance at 46,790 yuan per tonne and then fall towards a support at 46,080 yuan.The resistance has been established around the 76.4 percent Fibonacci projection levels of an upward wave C, the third wave of a three-wave cycle that developed from the March 20 low of 43,580 yuan. This cycle seems to be over and could be totally reversed over the next few trading session.The rebound has been triggered by the support at the 50 percent retracement of 46,080 yuan, which could be revisited.A break above 46,790 yuan will open the way towards 47,420 yuan.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 ...

Palm oil to hover above 2,613 ringgit SINGAPORE: Palm oil may hover above a support at 2,613 ringgit, as a rebound from the April 3 low of 2,597 ringgit could have extended. The support has been established around the 76.4 percent Fibonacci retracement on the rise from the Jan. 28 low of 2,519 ringgit to the March 11 high of 2,916 ringgit An upward wave 4 has been triggered, which failed to travel to a resistance at 2,671 ringgit, the 61.8 percent ...
Soy firms ahead of US report, wheat up for 2nd day SINGAPORE: Chicago soybean futures edged higher on Tuesday, recouping some of last session's losses on expectations that a US government report will show tighter supplies.Wheat also ticked up, rising for a second consecutive day with the deteriorating condition of the US winter crop underpinning the market.Chicago Board Of Trade May wheat rose 0.1 percent to $6.76-3/4 a bushel by 0302 GMT, while May soybeans added 0.3 percent to $14.69-1/4 a bushel, after easing 0.6 percent ...
Gold holds near $1,300 on weaker equities, Ukraine tensions SINGAPORE: Gold ticked higher on Tuesday, hovering around the $1,300-an-ounce level, regaining ground from overnight losses as weaker equities and geopolitical tensions in Ukraine lifted its safe-haven appeal.However, the metal struggled to make strong gains as physical demand in Asia was subdued and optimism about the US economic recovery continued to weigh on bullion investors.Spot gold rose 0.3 percent to $1,300.04 an ounce by 0337 GMT. It fell 0.5 percent in the previous session as ...
NY cocoa to fall towards $2,905 SINGAPORE: New York May cocoa has more or less completed a rebound from the April 2 low of $2,905 per tonne and is expected to drop towards this level. The rebound is labelled as a wave (b), the second wave of a three-wave cycle that developed from the March 17 high of $3,039 to that low. This wave has failed to travel above a resistance at $2,988, the 61.8 percent retracement, which could be its ...
Palm oil slips as Malaysian ringgit firms KUALA LUMPUR: Malaysian palm oil futures edged down in thin trade on Monday as a stronger local currency stemmed buying interest for the ringgit-denominated feedstock, although anticipation of tighter inventories capped losses.The Malaysian ringgit gained 0.35 percent early Monday to trade at 3.2680 against the US dollar, making the tropical oil more expensive for overseas investors and refiners."One of the reasons the market came down is because since early morning the ringgit has been strengthening ...
NY coffee to test resistance at $1.8790 SINGAPORE: New York May coffee is expected to test resistance at $1.8790 per lb, a break above which will lead to a further gain to $1.9305.Resistance has been established around the 50 percent Fibonacci retracement on the fall from the March 12 high of $2.0975 to the March 24 low of $1.66, it will block the way towards the 61.8 percent retracement at $1.9305.The chance of a break above $1.8790 could be high, as a ...


Index Closing Chg%
Arrow DJIA 16,262.56 0.55
Arrow Nasdaq 4,034.16 0.29
Arrow S&P 1,842.98 0.68
Arrow FTSE 6,541.61 0.64
Arrow DAX 9,173.71 1.77
Arrow CAC-40 4,345.35 0.83
Arrow Nikkei 13,996.81 0.62
Arrow H.Seng 22,671.26 1.60
Arrow Sensex 22,484.93 0.64

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