DAILY COMMODITY MARKET STRATEGY-12 May 2014

BASE METAL WRAP: Nickel extended gains to the highest price in two years on speculation that supplies of the metal used to make stainless steel will be tighter and prices will rise further in coming months.

ENERGY WRAP: Brent advanced for the first time in three days amid concern that increased tension in Ukraine may disrupt oil supplies from Russia, the world’s biggest energy exporter. West Texas Intermediate was steady in New York.

PRECIOUS METAL WRAP: Gold declined for a fifth day as the euro weakened against the dollar, and on speculation that the Federal Reserve will press on with reducing monetary stimulus.

GLOBAL EVENTS TO WATCH: NAB Business Confidence, FOMC Member Plosser Speaks, Federal Budget Balance.

AGRI COMMODITY	BULLION COMMODITY
CS CHANA (JUNE) OVERVIEW: TREND BEARISH SUP1:2995 SUP2:2950 RESIST1:3115 RESIST2:3200 TRADING STRATEGY: SELL ON RISE	CS COPPER (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1: 407 SUP2:404 RESIST1:417 RESIST2:423 TRADING STRATEGY: BUY ON DIPS
CS JEERA (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1:10500 SUP2:10280 RESIST1:11170 RESIST2:11465 TRADING STRATEGY: BUY ON DIPS	CS CRUDE (MAY) OVERVIEW: TREND CONSOLIDATE SUP1:5930 SUP2:5825 RESIST1:6140 RESIST2:6205 TRADING STRATEGY: SELL ON RISE
CS TURMERIC (JUNE) OVERVIEW: TREND BULLISH SUP1:6600 SUP2:6470 RESIST1:6960 RESIST2:7270 TRADING STRATEGY: BUY ON DIPS	CS GOLD (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1:28200 SUP2:28000 RESIST1:28650 RESIST2:29100 TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1:4640 SUP2:4505 RESIST1:4820 RESIST2:4870 TRADING STRATEGY: BUY ON DIPS	CS SILVER (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:40500 SUP2:39900 RESIST1:43000 RESIST2:43840 TRADING STRATEGY: SELL ON RISE