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LME copper to stablise around $6,970 before a rise SINGAPORE: LME copper is expected to stabilise around a support at $6,970 per tonne and then retest a resistance at $7,017. The support is provided by the 38.2 percent Fibonacci retracement on the fall from the July 8 high of $7,212 to the Aug. 14 low of $6,821. The wave pattern suggests that the fall from the Aug. 20 high of $7,027.50 has been driven by a wave 4, which will be totally reversed by an upward wave 5. Most likely, this wave 5 could travel to $7,063, the 61.8 percent retracement. A break below $6,970 will open the way towards the 23.6 percent level at $6,913. 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 ...

LME aluminium to rise more to $2,129 SINGAPORE: LME aluminium may rise more to $2,129 per tonne, as indicated by a Fibonacci projection analysis. The analysis reveals that the metal has briefly pieced above a resistance at $2,074, the 138.2 percent Fibonacci projection level of an upward wave C that developed from the May 21 low of $1,754.75. The next resistance will be at $2,129, the 161.8 percent projection level. The wave C consists of five small waves. The trendline passing the ...
London copper stays around $7,000 as China factory growth slows SYDNEY: London copper stayed around $7,000 a tonne mark on Thursday after a gauge on China's factory health showed growth slowed in August, denting optimism over demand fuelled by brightening prospects in the United States. Growth in China's vast factory sector slowed to a three-month low in August as output and new orders moderated, a preliminary private survey showed on Thursday, reinforcing concerns about increasing softness in the economy.China is the world's biggest copper user, ...
US corn near 1-week low on record yield prospects SINGAPORE: Chicago corn slid for a second session on Thursday to trade at around a one-week low as expectations of record yields across much of the US grain belt prompted further selling. New-crop soybeans edged higher as the market recovered from Wednesday's contract-low, but gains were capped by forecasts of benign weather in the US Midwest which has reinforced hopes of all-time high production. Chicago Board of Trade December corn had fallen 0.2 percent to ...
Shanghai copper to approach 50,450 yuan again SINGAPORE: Shanghai copper has found a support at 50,100 yuan per tonne and is expected to approach a resistance at 50,450 yuan again.The support is provided by the 50 percent Fibonacci retracement on the fall from 51,580 yuan, an hourly chart high touched on July 3 and the Aug. 15 low of 48,620 yuan.However, copper may peak around the resistance and then reverse the short uptrend that developed from 48,620 yuan, as this resistance is ...
Palm oil to rebound to 2,094 ringgit SINGAPORE: Palm oil seems to have found a support at 2,046 ringgit per tonne and may rebound to 2,094 ringgit before falling again. The support is provided by the 300 percent Fibonacci projection level of a downward wave 3, the third wave of a five-wave cycle that started at the June 25 high of 2,511 ringgit. The bullish divergence on the hourly RSI suggests palm oil has been much oversold and is technically ready for ...
Gold extends losing streak; trades at 2-week low on strong dollar SINGAPORE: Gold extended losses to a fifth session on Thursday, dropping to a two-week low after the US dollar strengthened on indications from the US Federal Reserve that it could raise interest rates sooner than expected.A surprisingly strong recovery in the US job market could lead the Fed to raise interest rates earlier than it had been anticipating, minutes from the Fed's July meeting showed, although most officials wanted further evidence before changing their view.Spot ...

 



 
IndexClosingChg%
ArrowDJIA 17,106.70 0.17
ArrowNasdaq 4,570.64 0.29
ArrowS&P 2,000.02 0.11
ArrowFTSE 6,822.76 0.70
ArrowDAX 9,588.15 0.82
ArrowCAC-40 4,393.41 1.18
ArrowNikkei 15,521.22 0.59
ArrowH.Seng 25,074.50 0.37
ArrowSensex 26,442.81 0.02





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 25, 2014
Reserves $13.925 bln