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NY sugar may break support at 16.55 cents SINGAPORE: New York March sugar is biased to break a support at 16.55 cents per lb and fall more towards 16.36 cents, as indicated by its wave pattern and a Fibonacci retracement analysis.The support is provided by the 38.2 percent Fibonacci retracement on the rise from the Sept. 23 low of 15.51 cents to the Oct. 9 high of 17.20 cents. It has caused a sideways move in the range from 16.55 cents to 16.80 cents, the 23.6 percent retracement.The depth and the duration of the correction from 17.20 cents indicate a completion of the rebound from 15.51 cents. Chances are the correction may extend to 16.36 cents, the 50 percent level.A break above 16.80 cents will open the way towards 16.95 cents, the 14.6 percent retracement.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 ...

Japan offers to buy 117,056 tonnes food wheat via tender TOKYO: Japan's Ministry of Agriculture is seeking to buy a total of 117,056 tonnes of food quality wheat from the United States, Canada and Australia in a regular tender that will close late on Thursday.Japan, the world's sixth-biggest wheat importer, keeps a tight grip on imports of the country's second most important staple after rice and buys the majority of the grain for milling via tenders typically issued three times a month.Copyright Reuters, 2014 ...
NY coffee to drop to $2.1310 SINGAPORE: New York December coffee failed to break a resistance at $2.2440 per lb and may retrace to $2.1310.The resistance is provided by the 100 Fibonacci projection level of the wave c. Coffee failed to overcome this barrier twice. The failure could be due to the completion of the wave c or an incomplete correction that started at the Oct. 6 high of $2.2550. Both these scenarios suggest a further drop to $2.1310, the 76.4 ...
CBOT wheat to hover below $5.09-1/2 SINGAPORE: CBOT December wheat faces resistance at $5.09-1/2 per bushel, and may hover below this level or retrace towards support at $4.93.The resistance has been established around the 38.2 percent Fibonacci retracement on the downtrend from the Aug. 28 high of $5.79-1/4 to the Sept. 25 low of $4.66-1/4.A consolidation triggered by the resistance could extend, consisting of three waves, with the current wave labelled b ending around $5.09-1/2. The third, the wave c, may ...
China coal tariffs blacken Aussie free trade talks HONG KONG: Import taxes will help China to protect its ailing domestic producers from a glut of cheap foreign supply. Yet raising the defences makes it even harder for Australia, a top exporter, to present a long-awaited agreement with its top trading partner as evenly balanced. Copyright Reuters, 2014 ...
Gold holds near 4-week high as stocks, dollar drop SINGAPORE: Gold retained overnight gains on Tuesday to trade near its highest in four weeks as investor appetite for riskier assets eased amid global growth worries, while a softer dollar also underpinned prices of the metal.A sell-off in the stock markets saw gold-backed exchange-traded funds (ETF) attracting investors for the first time in a month after heavy outflows.Spot gold eased slightly to $1,234.05 an ounce by 0311 GMT, but remained close to a four-week peak ...
Palm oil may rise to 2,224 ringgit SINGAPORE: Palm oil seems to have stabilised around support at 2,163 ringgit per tonne and may rise towards resistance at 2,224 ringgit.Resistance is provided by the 61.8 percent Fibonacci projection level of a preceding wave (c) that started at the Sept. 22 low of 2,064 ringgit. This barrier has triggered a consolidation which seems to have been shaped into a triangle, a typical continuation pattern that indicates an extension of the preceding uptrend rising from ...


Index Closing Chg%
Arrow DJIA 16,614.81 1.31
Arrow Nasdaq 4,419.48 2.40
Arrow S&P 1,941.28 1.96
Arrow FTSE 6,372.33 1.68
Arrow DAX 8,886.96 1.94
Arrow CAC-40 4,081.24 2.25
Arrow Nikkei 14,804.28 2.03
Arrow H.Seng 23,088.58 0.08
Arrow Sensex 26,575.65 0.55

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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 20, 2014
Reserves $13.436 bln