DAILY COMMODITY MARKET STRATEGY-20 May 2014

BASE METAL WRAP: Nickel dropped for the first time in three days amid speculation that the rally in prices this year may curb demand for the metal used to make stainless steel.

ENERGY WRAP: West Texas Intermediate traded near a four-week high amid speculation crude supplies will shrink further at Cushing, the biggest U.S. oil-storage hub, halting gains in nationwide stockpiles. Brent was steady in London.

PRECIOUS METAL WRAP: China’s gold demand fell 18 percent in the first quarter as investors in the world’s biggest user bought fewer bars and coins, offsetting record interest in jewelry, the World Gold Council said.

GLOBAL EVENTS TO WATCH: Monetary Policy Meeting Minutes, CPI y/y, FOMC Member Plosser Speaks, FOMC Member Dudley Speaks.

AGRI COMMODITY	BULLION COMMODITY
CS CHANA (JUNE) OVERVIEW: TREND BEARISH SUP1:2950 SUP2:2875 RESIST1:3035 RESIST2:3090 TRADING STRATEGY: SELL ON RISE	CS COPPER (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1: 407 SUP2:404 RESIST1:420 RESIST2:424 TRADING STRATEGY: BUY ON DIPS
CS JEERA (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1:10910 SUP2:10760 RESIST1:11465 RESIST2:11670 TRADING STRATEGY: BUY ON DIPS	CS CRUDE (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1:5956 SUP2:5930 RESIST1:6110 RESIST2:6184 TRADING STRATEGY: BUY ON DIPS
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 SUP1:4340 SUP2:4140 RESIST1:4485 RESIST2:4650 TRADING STRATEGY: SELL ON RISE	CS SILVER (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:40500 SUP2:39900 RESIST1:41350 RESIST2:43000 TRADING STRATEGY: SELL ON RISE