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Palm oil to test resistance at 2,150 ringgit SINGAPORE: Palm oil is expected to test resistance at 2,150 ringgit per tonne, a break above which will lead to a further gain to 2,178 ringgit.Resistance is provided by the 23.6 percent Fibonacci retracement on the rise from the Sept. 2 low of 1,914 ringgit to the Oct. 1 high of 2,223 ringgit, blocking the way towards the 14.6 percent retracement at 2,178 ringgit, the 14.6 percent level.The correction from 2,223 ringgit could have completed, as palm oil failed to break support at 2,105 ringgit, the 38.2 percent level. The preceding uptrend from 1,914 ringgit could have resumed, driven by a wave (c) which may travel above 2,223 ringgit.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 ...

Iron ore falls further as Chinese buying interest stalls SINGAPORE: Spot iron ore prices pulled further away from 3-1/2-week highs as buyers from top importer China stepped back after restocking inventories."Some mills did replenish some stocks after the National Day holidays, but after that the buying interest has slowed," said an iron ore trader in Shanghai, referring to the Oct. 1-7 holidays.Iron ore for immediate delivery to China fell 2.1 percent to $80.50 a tonne on Thursday, according to data compiled by the Steel ...
Palm falls to more than 3-week low as crude oil slides KUALA LUMPUR: Malaysian palm oil futures fell to their lowest in more than three weeks on Thursday, dragged by sliding crude prices and worries that bigger supplies of rival edible oils would snatch food and fuel demand away from palm.Brent crude for November delivery dropped to $82.72 a barrel, the lowest since November 2010, while US crude fell $1.01 to $80.77 a barrel, as growing concerns over the global economy stretched a four-month rout.Palm oil ...
NY sugar to fall to 16.36 cents SINGAPORE: New York March sugar is expected to fall to a support at 16.36 cents per lb, a break below which will lead to a further loss to 16.16 cents.The support is provided by the 50 percent Fibonacci retracement on the rise from the Sept. 23 low of 15.51 cents to the Oct. 9 high of 17.20 cents. Sugar has cleared a former support at 16.55 cents, the 38.2 percent retracement, and is heading towards ...
NY coffee to test support at $2.1310 SINGAPORE: New York December coffee is expected to test a support at $2.1310 per lb, with a good chance of breaking below this level and falling more to $2.0605.It is clear that a top has formed around a resistance at $2.2440, the 100 percent Fibonacci projection level of an upward wave c. Coffee has broken a support at $2.1790, the 86.4 percent level. The next support will be at $2.1310, the 76.4 percent level, which ...
Palm prices seen up from current levels by end-2014; oilseeds supply eyed KUALA LUMPUR: Palm oil futures may end the year 2 percent above current levels due to lower output in second-biggest producer Malaysia, but abundant supplies of rival oilseeds mean prices will still close down about 19 percent for the year, a Reuters poll showed.While a median survey of 14 planters, analysts and traders pegged prices at 2,161 ringgit ($660.05) per tonne for the end of this year, forecasts ranging between 1,900 ringgit and 2,600 ringgit ...
Iron ore futures stretch losses on global growth worries SINGAPORE: Iron ore futures in China and Singapore extended losses on Thursday, caught up in the weakness among other risk assets as worries over the outlook for the global economy mount.Oil prices fell to fresh four-year lows and Japanese stocks tumbled as investors shunned risks after recent weak data from the United States fueled worries over the world economy.The most-traded iron ore for January delivery on the Dalian Commodity Exchange was down 2.7 percent at ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
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Trade Balance $-2.807 bln
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WeeklyOctober 23, 2014
Reserves $13.465 bln