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CBOT soybeans to retest support at $10.15-1/2 SINGAPORE: CBOT soybeans January contract is expected to retest support at $10.15-1/2 per bushel, as indicated by its wave pattern and a Fibonacci projection analysis.The support is provided by the 114.6 percent Fibonacci projection level of a downward wave c that started at the Dec. 15 high of $10.55. It is the third of a three-wave cycle that developed from the Nov. 12 high of $10.86-1/4.It is uncommon that a wave c travels a distance 1.14 times the length of a preceding wave a. Most likely, the wave c could be either 1.382 or 1.618 times the length.In the case of soybeans, the current wave c may have only partially completed, as it may reach $10.07-1/4. Apparently, the rebound triggered by the support has ended around $10.33-1/2, the 61.8 percent level.No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his ...

CBOT corn targets $4.19 SINGAPORE: CBOT March corn may break a resistance at $4.10-1/2 per bushel and rise more to $4.19, as it may have completed a correction triggered by this barrier.The resistance is identified as the 50 percent Fibonacci projection level of an upward wave C, the third wave of a presumed three-wave cycle that developed from the Oct. 1 low of $3.30-1/2.This wave is capable of travelling into a wide range of $4.19-$4.46, formed by the 61.8 ...
CBOT wheat may rise into $6.58-1/2 to $6.65 range SINGAPORE: CBOT March wheat may rise into a range of $6.58-1/2 to $6.65 per bushel, as it has broken a resistance at $6.47-1/4.The resistance was established at the 238.2 percent Fibonacci projection level of an upward wave c, the third wave of a three-wave cycle that developed from the Sept. 25 low of $4.80.The next resistance will be at $6.58-1/2, the 261.8 percent level, a break above which will lead to a further gain to ...
Spot gold may retest support at $1,185 SINGAPORE: Spot gold may retest a support at $1,185 per ounce, as it has not completed a correction from the Dec. 10 high of $1,238.20. The correction consists of three waves, with the third wave labelled c expected to travel to $1,174, its 100 percent Fibonacci projection level. The support at $1,185, the 76.4 percent level, has temporarily held the fall and may be tested again when the current moderate rebound ends around $1,198, the ...
Gold gains as Fed takes ‘patient’ stance on rate hike SINGAPORE: Gold climbed on Thursday after the US Federal Reserve said it would take a "patient" approach in deciding when to raise interest rates even as the US economy strengthens. Fed Chair Janet Yellen said the Fed was unlikely to hike rates for "at least a couple of meetings", meaning April of next year at the earliest. A hike in US interest rates dims the appeal of non-interest bearing assets such as gold and also ...
LME copper to retest support at $6,272 SINGAPORE: LME copper is expected to retest support at $6,272 per tonne as it could have resumed its downtrend. Support is identified as the 86.4 percent Fibonacci retracement on the rebound from the Dec. 1 low of $6,230.75. The rebound has been reversed to such an extent that it could be hard to extend. The moderate bounce triggered by the support may end around resistance at $6,417, the 38.2 percent level, a break above which ...
LME aluminium to test resistance at $1,934 SINGAPORE: LME aluminium may test a resistance at $1,934 per tonne, as it has failed to break support at $1,900. The support and the resistance are identified respectively as the 76.4 and 61.8 percent Fibonacci projection levels of a downward wave c, the third wave of a three-wave cycle that developed from the Sept. 2 high of $2,119. A break above $1,934 could lead to a further gain to $1,962, the 50 percent level, while ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln