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TOCOM steadies ahead of near-term contract's expiry TOKYO: Benchmark Tokyo rubber futures were steady on Thursday as investors were reluctant to take large fresh positions ahead of the expiry of a near-term contract next week and amid lingering concerns over oversupply in Asia.The Tokyo Commodity Exchange (TOCOM) rubber contract for April delivery finished 0.1 yen higher at 157.6 yen ($1.28) per kg after trading in a narrow range."The market has been quiet this week as investors have been hesitant to change hands in a big way ahead of the three-day weekend and the November contract's expiry," a Tokyo-based dealer who declined to be named said.The November contract is due to expire next Tuesday. The TOCOM will be closed on Monday due to a national holiday in Japan."It looks that there is ceiling at 160 yen. The benchmark is likely to stay in a box range between 155-160 yen until next week," the dealer said.The most active rubber ...

Spot gold's target at $1,049 temporarily aborted SINGAPORE: A bearish target at $1,049 per ounce has been temporarily aborted for spot gold, as it is pulling back towards a former support at $1,076.The support was provided by the 50 Fibonacci projection level of a downward wave C, the third wave of a three-wave cycle from the Jan. 22 high of $1,306.20, it has become a resistance. A strong pullback could extend far above $1,076, while a weak one could end around this ...
LME aluminium biased to break support at $1,462 SINGAPORE: LME aluminium is biased to break a support at $1,462 per tonne and fall further, as its bounce triggered by this level could have completed.The bounce has been basically limited below a resistance at $1,488, the 138.2 percent level. With aluminium having approached $1,462 again, the chance of a break below this level will be high. The next support will be at $1,445, the 176.4 percent level.A break above $1,488 could lead to a ...
Shanghai copper's target at 34,000 yuan intact SINGAPORE: Shanghai copper is expected to drop to 34,000 yuan per tonne, as its bounce caused by the support at 34,680 yuan could have completed.The support is provided by the 200 percent Fibonacci projection level of a downward wave 3, which is the third wave of a five-wave cycle from the Sept. 9 high of 41,550 yuan.The bounce failed to extend above a resistance at 35,360 yuan, the 176.4 percent level. In addition, the Nov. ...
Palm oil still targets 2,233 ringgit SINGAPORE: Palm oil still targets 2,233 ringgit per tonne, as the support at 2,291 ringgit does seem to hold.The support is provided by the 38.2 percent Fibonacci projection level of a downward wave C, the third wave of a three-wave cycle from the Sept. 29 high of 2,460 ringgit.Palm oil keeps testing this barrier after a few failures, indicating it is riding on a steady downtrend from the Nov. 9 high of 2,384 ringgit. Strategically, ...
CBOT soybeans may break support at $8.49-1/2 SINGAPORE: CBOT soybeans may break a support at $8.49-1/2 per bushel and fall towards the next support at $8.26-3/4, as a bounce from the Nov. 10 low of $8.50 could have completed.These two supports are provided respectively by the 38.2 percent and the 50 percent Fibonacci projection levels of a downward wave C, the third wave of a three-wave cycle from the July 14 high of $10.50-1/4.This wave could travel to $8.04, its 61.8 percent ...
CBOT corn neutral in $3.65-1/2 to $3.69-1/2 range SINGAPORE: CBOT March corn looks neutral in a range of $3.65-1/2 to $3.69-1/2 per bushel, and an escape will point a direction.The range is formed by the 114.6 percent and the 100 percent Fibonacci projection levels of a downward wave C, the third wave of a presumed three-wave cycle from the Oct. 7 high of $4.10.A drop to $3.64 could confirm a break below $3.65-1/2, and the 138.2 percent level at $3.59 will be targeted, ...


Index Closing Chg%
Arrow DJIA 17,813.39 0.01
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Arrow Nikkei 19,847.58 0.39
Arrow H.Seng 22,498.00 0.40
Arrow Sensex 25,775.74 0.17

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Foreign Debt $62.649bn
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