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Palm oil neutral in 2,298-2,328 ringgit range SINGAPORE: Palm oil looks neutral in a range of 2,298-2,328 ringgit per tonne, and an escape will point a direction. The range has been formed by the 100 percent and the 76.4 percent Fibonacci projection levels of a downward wave 3, which started at the July 7 high of 2,424 ringgit. This wave may eventually extend to 2,220 ringgit, its 161.8 percent projection level. A drop below its July 16 low of 2,288 will confirm continuation of the downtrend and an immediate target will be 2,250 ringgit, the 138.2 percent level. A rise above 2,328 ringgit will signal an extension of the rebound towards 2,346 ringgit, the 61.8 percent level. 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 ...

Indonesia coffee, cocoa, rubber production seen increasing in 2014 JAKARTA: Indonesia, the world's third-largest coffee producer, is expected to produce 711,000 tonnes of coffee beans this year, an agriculture ministry official said on Thursday, up 2.9 percent from the 691,000 tonnes produced in 2013. Indonesia's cocoa bean production is expected to climb to 817,000 tonnes this year, up 14.7 percent from the 712,000 tonnes produced in 2013, Azwar Abubakar, who oversees production of coffee and cocoa at the ministry, told reporters. Natural rubber output ...
LME aluminium to approach $1,999 again SINGAPORE: LME aluminium is expected to approach a resistance at $1,999 per tonne again, to complete a wave c. This is the third wave of a three-wave cycle that developed from the June 12 low of $1,836, it may travel the same distance as the preceding wave a, to arrive at $1,999, a 100 percent projection level. A break above $1,999 will confirm an extension of the wave c towards $2,038, the 123.6 percent projection ...
Gold above $1,300 on bargain-hunting; interest rate fears linger SINGAPORE: Gold ticked higher on Thursday to trade just above $1,300 an ounce as buyers emerged after a recent sharp drop in prices, but it was still near a four-week low as investors weighed the possibility of a sooner-than-expected hike in US interest rates.Gold has been under pressure after Federal Reserve Chair Janet Yellen said on Tuesday the US central bank could raise rates earlier or faster if hiring and wages take off in an ...
Spot gold targets $1,312 SINGAPORE: Spot gold may break a resistance at $1,305 per ounce and rise more to $1,312.A rebound from the July 15 low of $1,291.70 has not completed as it may extend into a range of $1,312-$1,318, formed by the 38.2 percent and the 50 percent Fibonacci retracements on the fall from the July 10 high of $1,345 to $1,291.70.Wave pattern shows that the rebound has been driven by a wave (2), the second wave of ...
LME copper to test support at $7,025 SINGAPORE: LME copper is expected to test a support at $7,025 per tonne, a break below which will lead to a further loss to $6,891. The support is provided by the 61.8 percent Fibonacci retracement on the fall from the Jan. 2 high of $7,460 to the March 19 low of $6,321. It will temporarily block the way towards the 50 percent level at $6,891, as copper seems to have topped around $7,191, the 76.4 ...
Corn bounces away from contract low; soybeans and wheat also up SINGAPORE/HAMBURG: US new-crop corn futures rose on Wednesday in a rebound after sharp falls including a fresh contract low hit a day earlier, but expectations of near-record crops in the United States limited gains.Soybeans rose as Chinese purchasing underpinned the market, while wheat firmed on bargain buying.Chicago Board of Trade December corn gained 1.05 percent to $3.85-3/4 a bushel by 1057 GMT, having slid 1.7 percent on Tuesday, when prices hit a contract low of ...


Index Closing Chg%
Arrow DJIA 16,982.59 0.13
Arrow Nasdaq 4,444.91 0.10
Arrow S&P 1,978.91 0.03
Arrow FTSE 6,788.07 0.05
Arrow DAX 9,598.17 0.48
Arrow CAC-40 4,344.77 0.33
Arrow Nikkei 15,529.40 0.46
Arrow H.Seng 24,428.63 0.88
Arrow Sensex 25,991.23 0.52

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Foreign Debt $60.9bn
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GDP Growth 3.6%
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WeeklyJuly 10, 2014
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