DAILY COMMODITY MARKET STRATEGY-5 FEB
BASE METAL WRAP: Copper dropped for a 10th day, heading for the longest losing streak since at least April 1986, on signs of weakening demand after manufacturing slowed in China and the U.S., the world’s top metals consumers.
ENERGY WRAP: Natural gas futures jumped in New York, rising for the first time in four days, on forecasts for a polar blast that would deplete stockpiles of the heating fuel. West Texas Intermediate crude rose for a second day on speculation a U.S. government report will show distillate inventories fell amid cold weather in the country, the world’s biggest oil consumer.
PRECIOUS METAL WRAP: Gold held a decline as a rebound in equity markets damped haven demand amid slower physical purchases during the Lunar New Year holiday.
GLOBAL EVENTS TO WATCH: Services PMI, ADP Non-Farm Employment Change, Building Permits m/m, Final Services PMI, ISM Non-Manufacturing PMI, FOMC Member Tarullo Speaks, Crude Oil Inventories, FOMC Member Plosser Speaks.
AGRI
COMMODITY |
COMMODITY |
CS
CHANA (FEB.) OVERVIEW:
TREND
CONSOLIDATE
SUP1:2790
SUP2:2760
RESIST1:2854
RESIST2:2880
TRADING
STRATEGY: SELL ON RISE
CAPITALSTARS.COM
+919200099927 +919977499927 |
CS
COPPER (FEB.) OVERVIEW:
TREND
CONSOLIDATE
SUP1:440
SUP2:435
RESIST1:446
RESIST2:449
TRADING
STRATEGY: SELL ON RISE
CAPITALSTARS.COM
+919200099927 |
CS
JEERA (MARCH) OVERVIEW:
TREND
CONSOLIDATE
SUP1:11500
SUP2:11300
RESIST1:12100
RESIST2:12300
TRADING
STRATEGY: SELL ON RISE
CAPITALSTAR0S.COM
+919200099927 |
CS
CRUDE (FEB.) OVERVIEW:
TREND
CONSOLIDATE
SUP1:6040
SUP2:6004
RESIST1:6170
RESIST2:6200
TRADING
STRATEGY: BUY ON DIPS
CAPITALSTARS.COM
+919200099927 |
CS
TURMERIC (APRIL) OVERVIEW:
TREND
BULLISH
SUP1:7300
SUP2:7160
RESIST1:7550
RESIST2:7650
TRADING
STRATEGY: BUY ON DIPS
CAPITALSTARS.COM
+919200099927 |
CS
GOLD (FEB.) OVERVIEW:
TREND
CONSOLIDATE
SUP1:29580
SUP2:29250
RESIST1:29985
RESIST2:30260
TRADING
STRATEGY: SELL ON RISE
CAPITALSTARS.COM
+919200099927 |
CS
SOYABEAN (MARCH) OVERVIEW:
TREND
CONSOLIDATE
SUP1:3840
SUP2:3780
RESIST1:3922
RESIST2:3965
TRADING
STRATEGY: BUY ON DIPS
CAPITALSTARS.COM
+919200099927 |
CS
SILVER (MARCH) OVERVIEW:
TREND
CONSOLIDATE
SUP1:42400
SUP2:42000
RESIST1:44500
RESIST2:45100
TRADING
STRATEGY: SELL ON RISE
CAPITALSTARS.COM
+919200099927 |
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