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Spot gold may fall to $1,224 SINGAPORE: Spot gold may fall to $1,224 per ounce, as a rebound from the Oct. 6 low of $1,183.46 could have completed.The completion has been indicated by the duration of the correction from the Oct. 15 high of $1,249.30, which is not supposed to be so long should the preceding short-term uptrend remain intact.A Fibonacci retracement analysis on the rise from $1,183.46 to $1,249.30 reveals a support at $1,234, the 23.6 percent level, which has temporarily held the fall.Strategically, a drop to $1,231 will signal a break below the support and the 38.2 percent retracement at $1,224 will be targeted then.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 ...

LME copper to revisit low of $6,530 SINGAPORE: LME copper has completed a rebound from the Oct. 17 low of $6,530 per tonne and is expected to revisit this low. The rebound was triggered by a support at $6,524, the 138.2 percent Fibonacci projection level of a downward wave (c) that started at the Sept. 16 high of $6,992. This wave may eventually travel to $6,444, the 161.8 percent projection level. The rebound has failed to extend above a resistance at $6,653, ...
US soy near 1-week low, corn extends losses on dry weather f'cast SINGAPORE: Chicago soybean futures slid to their lowest in almost a week on Monday and corn fell for a second session, under pressure from forecasts of dry weather in the US Midwest that will prompt farmers to speed up harvesting. Wheat lost more ground in early Asian trade, tracking the weakness in corn and soybeans. Chicago Board of Trade front-month soybeans fell as much as 0.7 percent to $9.45-1/2 a bushel by 0233 GMT, lowest ...
LME aluminium to rise to $2,002 SINGAPORE: LME aluminium is expected to rise to $2,002 per tonne, after a shallow correction to $1,960. Wave pattern suggests the progress of a wave c, which started at the Oct. 16 low of $1,893.50. This wave has five component waves and so far, only three have unfolded. The fourth wave labelled 4 may end around $1,960, a support provided by the lower channel line of a rising channel. The fifth wave labelled 5 will ...
Shanghai copper still targets 46,570 yuan SINGAPORE: Shanghai copper still targets 46,570 yuan per tonne, as indicated by its wave pattern and a Fibonacci projection analysis.The metal is riding on a wave c, the third wave of a three-wave cycle that developed from the Aug. 25 high of 50,300 yuan. This wave is capable of travelling to 46,570 yuan, its 100percent Fibonacci projection level, which was narrowly missed on Oct. 17.The moderate rebound from the Oct. 17 low of 46,700 yuan ...
Palm oil to retest resistance at 2,150 ringgit SINGAPORE: Palm oil is expected to retest a resistance at 2,150 ringgit per tonne, a break above which will lead to a further gain to 2,178 ringgit. A three-wave cycle rising from the Sept. 2 low of 1,914 ringgit has not completed, with the third wave labelled (c) having just started. This wave could approach the peak of the first wave at 2,223 ringgit, a high touched on Oct.1. A Fibonacci retracement on the first ...
CBOT soybeans to drop to $9.41-1/4 SINGAPORE: CBOT soybeans November contract is expected to fall to $9.41-1/4 per bushel, as it has cleared a support at $9.50.The drop on Oct. 17 has confirmed a completion of the rebound from the Oct. 1 low of $9.04. A Fibonacci retracement analysis on the rise from this low to the Oct. 15 high of $9.78-1/2 reveals several key levels, such as $9.50, $9.41-1/4 and $9.32-1/2, respectively the 38.2 percent, the 50 percent and the ...


Index Closing Chg%
Arrow DJIA 16,677.90 1.32
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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
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Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln