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Spot gold to fall to $1,280.40 SINGAPORE: Spot gold is expected to fall to its Aug. 1 low of $1,280.40 per ounce, as it has broken below a support at $1,297.The support is at the 61.8 percent Fibonacci retracement on the rise from $1,280.40 to the Aug. 8 high of $1,322.60. The next support will be at $1,290, the 76.4 percent level, which could be ignored as a bearish triangle that has been forming since Aug. 15 points a target at $1,280.40.A rebound from the current level may be limited to $1,302, the 50 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 his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses. Copyright Reuters, 2014 ...

Shanghai copper to test support at 48,680 yuan SINGAPORE: Shanghai copper is expected to test a support at 48,680 yuan per tonne, a break below which will lead to a further loss to 48,330 yuan.The support is provided by the 100 percent Fibonacci projection level of a downward wave C that developed form 51,070 yuan, an hourly chart high touched on July 25. The next support will be at 48,330 yuan, the 114.60 percent level.Resistance is at 49,240 yuan, the 76.4 percent level, ...
Palm oil to fall to 2,046 ringgit SINGAPORE: Palm oil is expected to fall further to 2,046 ringgit per tonne as it has broken below a support at 2,094 ringgit. The support was provided by the 261.8 percent Fibonacci projection level of a downward wave 3, the third wave of a five-wave cycle that started at the June 25 high of 2,511 ringgit. The next support will be at 2,046 ringgit, the 300 percent level, a break below which will lead to ...
LME copper to retest support at $6,820 SINGAPORE: LME copper is expected to retest a support at $6,820 per tonne, as it has completed a rebound triggered by this level. The support is provided by the 150 percent Fibonacci projection level of a downward wave C that started at the July 25 high of $7,198.25. This wave has been zigzagging down in a falling channel, the upper channel line of which exerts a resistance while the lower channel line provides a support. ...
LME aluminium may rise to $2,074 SINGAPORE: LME aluminium may break a resistance at $2,041 per tonne and rise more to $2,074. The resistance is at the 123.6 percent Fibonacci projection level of an upward wave C that developed from the May 21 low of $1,754.75, temporarily blocking the way towards the 138.2 percent level at $2,074. A rise above the Aug. 19 high of $2,047 will confirm the break.Wave pattern indicates the metal is riding on a wave 5, which ...
Gold struggles below $1,300 on strong US data, higher stocks SINGAPORE: Gold was stuck firmly below $1,300 an ounce on Wednesday after a three-day losing streak, as strong US housing data bolstered stock markets and dimmed bullion's appeal as a safe haven.While keeping an eye on mounting geopolitical tensions, investors were also awaiting minutes of the Federal Reserve's July meeting for clues about the US central bank's monetary policy outlook.Spot gold was little changed at $1,295.68 an ounce by 0332 GMT, after dropping 1.3 percent ...
CBOT soybeans to break support at $10.41-1/2 SINGAPORE: CBOT soybeans November contract is poised to break a support at $10.41-1/2 per bushel and fall further towards $10.26-3/4, driven by a wave C.The contract failed to overcome this barrier at its first attempt, but may succeed in its current attempt. The support is provided by 76.4 percent Fibonacci projection level of a downward wave C that started at the Aug. 11 high of $10.89-1/4.The next support will be at $10.26-3/4, the 100 percent ...

 



 
Index Closing Chg%
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln