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LME aluminium may retrace to $1,966 SINGAPORE: LME aluminium faces a resistance at $1,985 per tonne and may retrace to $1,966.The resistance is provided by the 23.6 percent Fibonacci retracement on the rise from the Oct. 2 low of $1,885 to the Oct. 22 high of $2,015.75.The gain from the Oct. 24 low of $1,953 could have contributed to the formation of the right shoulder of a head-and-shoulders. Chances are, this gain may be totally reversed in due course.A further rise to $1,988 may be extended to $1,997, the 14.6 percent retracement.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 business, financial or legal advice regarding the products mentioned in the analyses.Copyright Reuters, 2014 ...

Shanghai copper may drop to 47,050 yuan SINGAPORE: Shanghai copper third-month may drop to 47,050 yuan per tonne, as it faces a resistance at 47,520 yuan.The resistance is provided by the 23.6 percent Fibonacci retracement on the fall from the July 4 high of 51,580 yuan to the Oct. 17 low of 46,270 yuan. This barrier caused a drop towards the 14.6 percent level at 47,050 yuan on Oct. 27 and may trigger another one.A rise to 47,640 yuan may signal a ...
Palm oil neutral in 2,164-2,195 ringgit range SINGAPORE: Palm oil looks neutral in a range of 2,164-2,195 ringgit per tonne, and an escape will point a direction.The range has been formed by the 50 percent and the 76.4 percent Fibonacci retracements on the fall from 2,223 ringgit to the Oct. 16 low of 2,104 ringgit. A drop below 2,164 ringgit will be extended to 2,132 ringgit, the 23.6 percent retracement.However, the bias seems to be towards the upside, which means palm oil ...
Brent falls towards $85 amid supply glut, lower price forecasts TOKYO: Brent crude extended its decline to a third day, dropping towards $85 a barrel on Tuesday, still under pressure from a Goldman Sachs report that slashed the investment bank's oil price forecasts amid a global supply glut.Citing rising production and insufficient demand, Goldman Sachs on Sunday cut its forecast for Brent to $85 a barrel from $100 for the first quarter of 2015 and reduced its projection for US crude to $75 from $90.Analysts ...
Malaysia to roll out B7 biodiesel plan from Nov - official KUALA LUMPUR: Malaysia will increase the amount of palm oil in biodiesel from 5 percent to 7 percent from November, as the world's No.2 palm grower tries to reduce stockpiles and prop up prices that have fallen nearly 20 percent this year.Malaysia was also studying the possibility of again raising the mandate for palm oil in diesel to 10 percent, plantation industries and commodities minister Douglas Uggah Embas said on Tuesday, although he not give ...
China's gold imports from Hong Kong jump to 6-month high in Sept SINGAPORE: China's net gold imports from main conduit Hong Kong jumped to a six-month high in September as the world's biggest consumer stocked up ahead of its National Day holiday.The annual National Day holiday observed in the first week of October is a time when millions of people travel and spend more than usual. It also marks a pick-up in weddings, boosting demand for gold jewellery.Net imports from Hong Kong to the mainland rose to ...
India to consider raw sugar export incentive after Oct 29 NEW DELHI: India will consider extending the incentives for raw sugar exports after Oct. 29 when leading cane growing states forecast their sugar output for the new season beginning October, two government sources said on Monday."The cane commissioners of leading cane growing states will present their estimates on Oct. 29 and that will set the ball rolling for a decision on raw sugar export subsidy in 2014/15," a government official with direct knowledge of the ...

 



 
Index Closing Chg%
Arrow DJIA 17,195.42 1.30
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Arrow S&P 1,994.65 0.62
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln