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Spot gold to drop to $1,218 SINGAPORE: Spot gold is expected to slide to $1,218 per ounce, as it has broken a support at $1,233.The support was provided by the 138.2 percent Fibonacci projection level of a downward wave C that developed from the Aug. 8 high of $1,322.60.The next support will be at $1,218, the 161.8 percent level.It won't be a surprise if gold falls to $1,209, the 176.4 percent level, as the metal could eventually reach $1,184.50, the Dec. 31, 2013 low, over a longer period.A break above $1,233, now a resistance, could lead to a further gain to $1,243, the 123.6 percent projection 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 the products mentioned in the analyses. Copyright Reuters, 2014 ...

LME copper may fall to $6,739 SINGAPORE: LME copper may break support at $6,772 per tonne and fall more to $6,739, as a rebound from the Sept. 11 low of $6,770 seems to be over. The support is identified as the 123.6 percent Fibonacci projection level of a downward wave C that started at the Sept. 8 high of $7,052.25. Copper failed to overcome this barrier in its first attempt but may succeed in its current attempt. The next support will ...
LME aluminium targets $1,980 SINGAPORE: A bearish target at $1,980 per tonne has been established for LME aluminium, as it has cleared a support at $2,033. The support was provided by the 23.6 percent Fibonacci retracement on the rise from the May 21 low of $1,754.75 to the Sept. 2 high of $2,119. The next support will be at $1,980, the 38.2 percent retracement. A surge above $2,033 will signal the previous break below this level could be false, ...
Palm oil still targets 2,142 ringgit SINGAPORE: A bullish target at 2,142 ringgit per tonne remains unchanged for palm oil, as indicated by its wave pattern and a Fibonacci retracement analysis. Palm oil is riding on a wave c, the third wave of a zigzag that started at the Sept. 2 low of 1,914 ringgit. This wave may travel a similar distance as the preceding wave a, to approach 2,142 ringgit, the 38.2 percent Fibonacci retracement on the fall from the ...
US wheat falls for 6th day, corn at contract low SINGAPORE: Chicago wheat slid for a sixth consecutive session on Monday with the front-month contract trading near a four-year low as US exporters struggle to sell grains, facing stiff competition from Black Sea suppliers.New-crop corn fell to trade at par with last week's contract low prices and soybeans gave up Friday's gains with easing concerns over potential frost damage.Chicago Board of Trade most-actively traded December wheat fell 0.2 percent to $5.01-1/2 a bushel, having closed ...
Malaysia's Sept. 1-15 palm oil exports up 31.5pc m/m KUALA LUMPUR: Exports of Malaysian palm oil products for Sept. 1-15 rose 31.5 percent to 750,425 tonnes from 570,761 tonnes during Aug. 1-15, cargo surveyor Intertek Testing Services said on Monday. Copyright Reuters, 2014 ...
CBOT soybeans still target $10.04 SINGAPORE: CBOT soybeans November contract is expected to retest a resistance at $9.91 per bushel, with a good chance of breaking above this level and rebounding more to $10.04.It seems soybeans have stabilised around the Sept. 11 low of $9.69-1/2, from which a rebound has started. Three waves labelled a, b, c may make up the rebound. It is the wave c driving the price towards $9.91, the 14.6 percent Fibonacci retracement on the preceding ...

 



 
Index Closing Chg%
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Arrow S&P 2,010.40 0.05
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Arrow CAC-40 4,461.22 0.08
Arrow Nikkei 16,321.17 1.58
Arrow H.Seng 24,306.16 0.57
Arrow Sensex 27,090.42 0.08





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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 $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln