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Spot gold targets $1,263 SINGAPORE: A bullish target at $1,263 per ounce has been established for spot gold as it has cleared resistance at $1,233.The strength of the rebound from the Oct. 6 low of $1,183.46 indicates it is against a big three-wave cycle that developed from the March 17 high of $1,391.76. A Fibonacci retracement analysis on the cycle reveals the rebound has extended above an earlier resistance at $1,233, the 23.6 percent level.The next resistance will be at $1,263, the 38.2 percent level, a break above which could lead to a further gain to $1,288, the 50 percent level. The pattern from the end of June, 2013 looks like a huge triangle, indicating a big upside potential.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 ...

LME copper to retest support at $6,604 SINGAPORE: LME copper is expected to test a support at $6,604 per tonne, a break below which will lead to a further loss to $6,524. The support is identified as the 114.6 percent Fibonacci projection level of a downward wave (c) that started at the Sept. 16 high of $6,992. This wave seems to have resumed, following the sharp fall from the Oct. 14 high of $6,825. A drop to $6,596 may confirm both a ...
Palm oil to test support at 2,105 ringgit SINGAPORE: Palm oil is expected to test a support at 2,105 ringgit per tonne, a break below which will lead to a further loss to 2,069 ringgit. The support is provided by the 38.2 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 50 percent retracement at 2,069 ringgit, the 50 percent level. A further rebound from ...
Flight to safety keeps gold near one-month high SINGAPORE: Gold retained sharp overnight gains on Thursday to trade near its highest in over a month, with investors seeking safety amid increasing concerns over a slump in the global economy.Spot gold was steady at $1,240.15 an ounce by 0328 GMT. The metal rose to its highest since Sept. 11 at $1,249.30 in the previous session, before paring some gains to close up 0.7 percent.Asia extended a selloff in global equities on Thursday. The dollar ...
CBOT soybeans to rebound to $9.61 before falling again SINGAPORE: CBOT soybeans November contract is expected to rebound moderately to $9.61 per bushel, before falling towards a support at $9.50, as indicated by its wave pattern and a Fibonacci retracement analysis.A three-wave cycle from the Oct. 1 low of $9.04 seems to be over, as its third component wave labelled C could be divided into five smaller waves. A Fibonacci retracement analysis on the cycle reveals support at $9.50, the 38.2 percent level, which ...
LME aluminium signals mixed SINGAPORE: Signals are mixed for LME aluminium as it has managed to hover around support at $1,919 per tonne.Support is identified as the 14.6 percent Fibonacci retracement on the fall from the Aug. 29 high of $2,119.50 to $1,885. A break below this barrier will confirm a continuation of the correction from the Oct. 9 high of $1,969, towards the Oct. 2 low of $1,885.In the meantime, an extension of the rebound from $1,885 will ...
US crude falls over $1/bbl on weak demand concerns SEOUL: US crude oil futures fell more than a dollar on Thursday in early Asian trades, extending a run of losses on concerns over weak oil demand as equity markets tumbled and economic gloom spread.Front-month November crude lost $1.14 a barrel at $80.64 as of 2334 GMT. It ended 6 cents lower at $81.78 in the previous session, falling as low as $80.01, it weakest since mid-2012. November Brent crude settled $1.26 lower at $83.78 ...


Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln