DAILY COMMODITY MARKET STRATEGY-31 january


BASE METAL WRAP: Copper futures fell to a seven-week low on Thursday, after data confirmed a contraction in China’s manufacturing sector and following the Federal Reserve’s decision to taper its monthly bond-buying program by USD10 billion for the second consecutive meeting.

ENERGY WRAP: West Texas Intermediate crude traded near the highest price this year, heading for a third weekly gain, as increased spending by U.S. consumers boosted the economy of the world’s biggest oil user. Natural gas extended its biggest decline in more than four years amid forecasts for milder weather in the U.S.

PRECIOUS METAL WRAP: Gold headed for the first weekly loss since December as signs of faster U.S. economic growth increased bets that the Federal Reserve will keep cutting stimulus and a decline in emerging markets eased.

GLOBAL EVENTS TO WATCH: Trade Balance, RBNZ Gov Wheeler Speaks, PPI q/q, CPI Flash Estimate y/y, GDP m/m, Core PCE Price Index m/m, Employment Cost Index q/q, Personal Spending m/m, Personal Income m/m, Chicago PMI, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations, FOMC Member Fisher Speaks.


COMMODITY
Agri COMMODITY
CS COPPER (FEB.) OVERVIEW:
TREND CONSOLIDATE
SUP1:445
SUP2:443
RESIST1:450
RESIST2:454
TRADING STRATEGY: SELL ON RISE
CAPITALSTARS.COM +919200099927
CS CHANA (FEB.) OVERVIEW:
TREND BEARISH
SUP1:2850
SUP2:2790
RESIST1:2970
RESIST2:3030
TRADING STRATEGY: SELL ON RISE
CAPITALSTARS.COM +919200099927 +919977499927
CS CRUDE (FEB.) OVERVIEW:
TREND CONSOLIDATE
SUP1:6070
SUP2:6040
RESIST1:6200
RESIST2:6272
TRADING STRATEGY: BUY ON DIPS
CAPITALSTARS.COM +919200099927
CS JEERA (MARCH) OVERVIEW:
TREND BEARISH
SUP1:12050
SUP2:11900
RESIST1:12270
RESIST2:12480
TRADING STRATEGY: SELL ON RISE
CAPITALSTAR0S.COM +919200099927
CS GOLD (FEB.) OVERVIEW:
TREND CONSOLIDATE
SUP1:29250
SUP2:28965
RESIST1:29850
RESIST2:29985
TRADING STRATEGY: SELL ON RISE
CAPITALSTARS.COM +919200099927
CS TURMERIC (APRIL) OVERVIEW:
TREND BULLISH
SUP1:7200
SUP2:6950
RESIST1:7650
RESIST2:7710
TRADING STRATEGY: BUY ON DIPS
CAPITALSTARS.COM +919200099927
CS SILVER (MARCH) OVERVIEW:
TREND CONSOLIDATE
SUP1:42400
SUP2:42000
RESIST1:43860
RESIST2:44500
TRADING STRATEGY: SELL ON RISE
CAPITALSTARS.COM +919200099927
CS SOYABEAN (FEB.) OVERVIEW:
TREND CONSOLIDATE
SUP1:3785
SUP2:3715
RESIST1:3915
RESIST2:3950
TRADING STRATEGY: BUY ON DIPS
CAPITALSTARS.COM +919200099927

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