DAILY COMMODITY MARKET STRATEGY-16 May 2014


BASE METAL WRAP: Copper futures fell for the first time in four sessions as slackening factory output raised concern that demand will ebb in China, the world’s top consumer.

ENERGY WRAP:
Brent headed for its first weekly gain this month amid speculation that escalating tension in Ukraine may disrupt supplies from Russia, the world’s biggest energy exporter. West Texas Intermediate rose in New York.

PRECIOUS METAL WRAP:
Gold futures fell the most in a week as declining U.S. jobless claims signaled a rebounding economy, reducing demand for the metal as a haven.

GLOBAL EVENTS TO WATCH: Fed Chair Yellen Speaks, Fed Chair Yellen Speaks, Housing Starts, Prelim UoM Consumer Sentiment, Prelim UoM Inflation Expectations.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:2995
SUP2:2950
RESIST1:3115
RESIST2:3200
TRADING STRATEGY: SELL ON RISE
CS COPPER (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1: 407
SUP2:404
RESIST1:420
RESIST2:424
TRADING STRATEGY: SELL ON RISE
CS JEERA (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:10760
SUP2:10500
RESIST1:11465
RESIST2:11670
TRADING STRATEGY: SELL ON RISE
CS CRUDE (MAY) OVERVIEW:
TREND CONSOLIDATE
SUP1:5930
SUP2:5825
RESIST1:6140
RESIST2:6205
TRADING STRATEGY: SELL ON RISE
CS TURMERIC (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:6560
SUP2:6470
RESIST1:6890
RESIST2:6970
TRADING STRATEGY: BUY ON DIPS
CS GOLD (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:27800
SUP2:27340
RESIST1:28400
RESIST2:28800
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:4540
SUP2:4340
RESIST1:4650
RESIST2:4730
TRADING STRATEGY: SELL ON RISE
CS SILVER (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:40500
SUP2:39900
RESIST1:43000
RESIST2:43840
TRADING STRATEGY: SELL ON RISE

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