DAILY COMMODITY MARKET STRATEGY-23 May 2014

BASE METAL WRAP: Copper headed for a third weekly advance, the longest winning streak since February, on improving factory output in China and the U.S., the world’s largest consumers of the metal, amid shrinking stockpiles.

ENERGY WRAP: West Texas Intermediate headed for its third weekly advance as declining U.S. crude stockpiles signaled rising fuel demand in the world’s biggest oil consumer. Brent was steady in London.

PRECIOUS METAL WRAP: Gold traded below $1,300 an ounce, little changed this week, as investors assessed the health of the U.S. economy and the impact on monetary stimulus. Platinum and palladium were poised for a second week of gains.

GLOBAL EVENTS TO WATCH: German Ifo Business Climate, Core CPI m/m, New Home Sales.

AGRI COMMODITY	BULLION COMMODITY
CS CHANA (JUNE) OVERVIEW: TREND BEARISH SUP1:2875 SUP2:2760 RESIST1:3035 RESIST2:3090 TRADING STRATEGY: SELL ON RISE	CS COPPER (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1: 404 SUP2:400 RESIST1:415 RESIST2:420 TRADING STRATEGY: BUY ON DIPS
CS JEERA (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1:10910 SUP2:10760 RESIST1:11465 RESIST2:11670 TRADING STRATEGY: SELL ON RISE	CS CRUDE (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1:6045 SUP2:5985 RESIST1:6184 RESIST2:6220 TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1:6220 SUP2:6070 RESIST1:6710 RESIST2:6852 TRADING STRATEGY: SELL ON RISE	CS GOLD (JUNE) OVERVIEW: TREND BEARISH SUP1:26920 SUP2:26240 RESIST1:27860 RESIST2:28300 TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1:4450 SUP2:4320 RESIST1:4600 RESIST2:4660 TRADING STRATEGY: BUY ON DIPS	CS SILVER (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:40500 SUP2:39900 RESIST1:41750 RESIST2:43000 TRADING STRATEGY: SELL ON RISE