02132016Sat
Last update: Sat, 13 Feb 2016 05am

Asia

Markets - Commodities - Asia

Spot gold may rise to $1,136 SINGAPORE: Spot gold may rise further to $1,136 per ounce, as indicated by a Fibonacci projection analysis and an expanding diagonal triangle. The metal is riding on a wave C, the third wave of a three-wave cycle from the Dec. 17, 2015 low of $1,047.25. This wave could extend to $1,136, the 100 percent projection level.The wave C, along with the preceding wave A and the wave B, has been unfolding within the expanding diagonal triangle, the upper trendline of which suggests a target above $1,136.Strategically, the target at $1,136 will be confirmed when gold climbs to $1,124. Support is at $1,111, the 61.8 percent level, a break below which could signal the completion of the cycle.Copyright Reuters, 2016 ...

Markets - Commodities - Asia

LME aluminium to approach $1,511 SINGAPORE: LME aluminium is expected to approach resistance at $1,511 per tonne, driven by a wave c. This is the third wave of a three-wave cycle from the Jan. 12 low of $1,449. It is progressing towards $1,511, the 23.6 percent Fibonacci projection level of a downward wave C, which is the third wave of a three-wave cycle from the Sept. 9, 2015 high of $1,655.50.A break above $1,511 could lead to a gain to ...

Markets - Commodities - Asia

Shanghai copper may fall to 35,250 yuan SINGAPORE: Shanghai copper may break a support at 35,530 yuan per tonne and fall to the next support at 35,250 yuan, as it failed to break a resistance at 35,800 yuan.These supports and the resistance are identified respectively as the 50 percent, the 38.2 percent, and the 61.8 percent Fibonacci retracements on the fall from the Dec. 30, 2015 high of 36,700 yuan to the Jan. 14 low of 34,350 yuan.Copper has been bouncing within ...

Markets - Commodities - Asia

Palm oil may drop to 2,430 ringgit SINGAPORE: Palm oil may drop to 2,430 ringgit per tonne as indicated by a triangle. The pattern developed from the Dec. 31, 2015 high of 2,508 ringgit. Its upper trendline has established resistance at 2,480 ringgit, which has caused a correction towards the lower trendline around 2,430 ringgit.Palm oil may rise again after retracing to 2,430 ringgit, as wave pattern suggests that it is riding on a wave C, which may extend to 2,535 ringgit, ...

Markets - Commodities - Asia

CBOT soybeans biased to fall to $8.70 SINGAPORE: CBOT soybeans March contract is biased to fall to $8.70 per bushel, as suggested by its wave pattern and a Fibonacci retracement analysis.The drop from the Jan. 19 high of $8.88 could consist of five small waves, with the final wave labelled e unfolding towards $8.70, the 50 percent Fibonacci retracement on the rise from the Jan. 6 low of $8.52 to $8.88.Resistance is at $8.82-1/2, the 14.6 percent level, a break above which ...

Markets - Commodities - Asia

CBOT corn remains neutral in $3.67-1/2 to $3.72 range SINGAPORE: Signals remain neutral for CBOT March corn, as it has been stuck in a narrow range of $3.67-1/2 to $3.72 per bushel.The range was formed by the 61.8 percent and the 76.4 percent Fibonacci retracements on the fall from the Dec. 18, 2015 high of $3.79-1/2 to the Jan. 7 low of $3.48-1/2.A break above $3.72 could open the way towards $3.75-1/4, the 86.4 percent level, while a break below $3.67-1/2 could cause a ...

Markets - Commodities - Asia

CBOT wheat may rise to $4.96-3/4 SINGAPORE: CBOT March wheat may rise to $4.96-3/4 per bushel as it has broken resistance at $4.81-1/4 and a trendline falling from the June 30, 2015 high $6.29-1/2.Resistance was provided by the 14.6 percent Fibonacci retracement on the fall from $6.29-1/2 to the Jan. 4 low of $4.56. The next resistance will be at $4.96-3/4, the 23.6 percent level.The break above $4.81-1/4 has been confirmed valid, as it occurred after rises in two successive days. ...