DAILY COMMODITY MARKET STRATEGY-19 May 2014


BASE METAL WRAP: London copper edged up after signs of a pick-up in the U.S. housing industry and as China pledged to quicken the pace of financial reform, lending support to demand growth for commodities.

ENERGY WRAP:
Brent extended its first weekly gain this month amid speculation escalating violence in Libya will further disrupt supplies from the holder of Africa’s biggest oil reserves. West Texas Intermediate was steady in New York. Faster-than-expected gains in U.S. natural-gas inventories are easing concern that a shortage is looming next winter, spurring speculators to cut bullish bets.

PRECIOUS METAL WRAP: Gold held below $1,300 an ounce as investors assessed the health of the U.S. economy and the impact on monetary stimulus against tension in Ukraine and Hedge funds cut bullish bets on gold futures by the most in a month as holdings of physical bullion in exchange-traded funds dropped to the lowest since 2009.

GLOBAL EVENTS TO WATCH: German Buba President Weidmann Speaks.
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: 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 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
RESIST1:41350
RESIST2:43000
TRADING STRATEGY: SELL ON RISE

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