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Spot gold to hover above $1,305 SINGAPORE: Spot gold has found a support at $1,305 per ounce, and may hover above this level for half or one trading session before falling more.The support has been identified as the 38.2 Fibonacci retracement on the rise from the June 3 low of $1,240.61 to the July 10 high of $1,345. Wave pattern indicates gold is riding on a powerful wave (3), the third wave of a big bearish five-wave cycle.A drop to $1,300 will confirm the break below the support and the next support will be at $1,293, the 50 percent level, which is expected to be weak, unable to hold the fall towards the 61.8 percent retracement at $1,280.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 ...

LME aluminium neutral in $1,961-$1,999 range SINGAPORE: LME aluminium looks neutral in a range of $1,961-$1,999 per tonne and an escape will point a direction. The range has been formed by the 76.4 percent and the 100 percent Fibonacci projection levels of an upward wave c, which developed from the June 12 low of $1,836. A drop below $1,961 may signal a reversal of the uptrend and a bearish target at $1,937, the 61.8 percent retracement, will be established. A rise ...
Shanghai copper to retest support at 49,260 yuan SINGAPORE: Shanghai copper is expected to retest support at 49,260 yuan per tonne, a break below which will lead to a further loss to 48,710 yuan.The support is provided by the 50 percent Fibonacci retracement on the rise from the June 9 low of 46,940 yuan to the July 4 high of 51,580 yuan.The next support will be at 48,710 yuan, the 61.8 percent retracement.The depth of the fall from 51,580 yuan signals a reversal ...
Palm oil still targets 2,250-2,268 ringgit range SINGAPORE: A bearish target range of 2,250-2,268 ringgit per tonne remains unchanged for palm oil , as indicated by its wave pattern and a Fibonacci projection analysis. Palm oil is riding on a wave 3, which has been temporarily disrupted by a support at 2,298 ringgit, the 100 percent level. However this wave is capable of travelling to 2,220, its 161.8 percent projection level.Before it fulfils the target, palm oil is expected to reach the ...
CBOT soybeans target $10.42-1/2 SINGAPORE: CBOT soybeans November contract may break a support at $10.72-1/2 per bushel and fall more towards $10.42-1/2, as it has approached this level again.The support is provided by the 223.6 percent Fibonacci projection level of a downward wave 3 that developed from the June 26 high of $12.46-1/4. This wave could have resumed after a pause around the support.Strategically, the target at $10.42-1/2 will be confirmed when soybeans drop below their July 11 low ...
CBOT corn targets $3.51-1/4 to $3.58-3/4 range SINGAPORE: CBOT September corn is expected to drop into a range of $3.51-1/4 to $3.58-3/4 per bushel, driven by a wave 5.This is the final wave of a five-wave cycle that developed from the June 23 high of $6.53. A Fibonacci projection analysis on the target of the preceding wave 3 reveals that the wave 5 has traveled below a support at $3.68, the 376.4 percent projection level.The next two supports are at $3.58-3/4 and ...
Gold holds above $1,300 as geopolitical risks eyed SINGAPORE: Gold steadied above the $1,300 an ounce support level on Monday, aided by anticipation of increased geopolitical risks as the United States began demanding answers from Russia after a Malaysian plane was downed in eastern Ukraine.Spot gold was little changed at $1,311.64 an ounce by 0302 GMT, after dropping 0.5 percent on Friday. Trading volumes were thin as Japanese markets were closed.The metal jumped 1.4 percent on Thursday when news of the downed Malaysian ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln