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Brent oil may fall to $82.87 SINGAPORE: Brent oil may fall more to $82.87 per barrel, as it has broken support at $86.67.The support has formed around the 76.4 percent Fibonacci projection level of a downward wave C that started at the June 19 high of $115.71. This wave is the third leg of a three-wave cycle that developed from the April 11, 2011 high of $127.02.The next support will be at $82.87, the 86.4 percent projection level. Based on the speed of the fall, wave C seems to be accelerating and it won't be a surprise if this wave breaks $82.87 and then travels to $77.70, the 100 percent level.** 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 other advisers for ...

Spot gold to fall to $1,216, target at $1,245 aborted SINGAPORE: A bullish target at $1,245 per ounce has been aborted for spot gold and a bearish one at $1,216 has been established.A rebound from the Oct. 6 low of $1,183.46 is against the downtrend from the Aug. 8 high of $1,322.60, instead of the trend from the July 10 high of $1,345, as gold failed to break resistance at $1,237, the 38.2 percent Fibonacci retracement on the fall from $1,322.60 to $1,183.46.The immediate support ...
LME copper to retest resistance at $6,823 SINGAPORE: LME copper may retest resistance at $6,823 per tonne, a break above which will lead to a further gain to $6,863.A double-bottom that formed around the Oct. 2 low of $6,604 has been confirmed, pointing to a target at $6,863, the 38.2 percent Fibonacci projection level of downward wave (c) that started at the Sept. 16 high of $6,992.Resistance at the 50 percent level of $6,823 has caused a moderate correction, which may end ...
LME aluminium to fall to $1,919 SINGAPORE: LME aluminium may approach support at $1,919 per tonne again, as a correction from the Oct. 9 high of $1,969 has not completed.The correction could consist of three waves. So far, only two have unfolded. The third wave labelled c seems to have started, travelling towards $1,919, the 14.6 percent Fibonacci retracement on the fall from the Aug. 29 high of $2,119.50 to $1,885.Strategically, the target at $1,919 will be confirmed when aluminium breaks ...
Shanghai copper to fall to 47,960 yuan SINGAPORE: Shanghai copper is expected to drop to 47,960 yuan per tonne, as it has broken a support at 48,270 yuan.The support was provided by the 50 percent Fibonacci retracement on the fall from 49,580 yuan to 46,950 yuan, respectively the close price on Sept. 17 and the Oct. 10 low, both on hourly charts.The next support will be at 47,960 yuan, the 38.2 percent retracement. The rebound from 46,950 yuan has completed around 48,580 ...
Palm oil to drop to 2,105 ringgit SINGAPORE: Palm oil is expected to drop to 2,105 ringgit per tonne, as it has broken a support at 2,150 ringgit.The support was 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. The next support will be at 2,105 ringgit, the 38.2 percent level.A triangle that formed between Oct. 1 and Oct. 14 has been confirmed bearish, pointing ...
Palm snaps three-day losing streak as soy gains KUALA LUMPUR: Malaysian palm oil futures rose on Tuesday to snap a three-day losing streak, lifted by anticipation of delays in the record US soybean harvest, alongside hopes that firm demand for palm would hold stockpiles in check.Reports of variable yields from the US Midwest grain belt and the prospect of delays to the harvesting of the 3.927 billion bushel soybean crop expected by the USDA pushed up front-month soybean prices."Concerns over the heavy rainfall ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln