DAILY COMMODITY MARKET STRATEGY-28 May 2014

BASE METAL WRAP: Copper traded nears an 11-week high after signs of improving demand in the U.S. and China, the biggest consumers of metals.

ENERGY WRAP: Brent crude rose for the first time in three days amid speculation that escalating violence in Ukraine may disrupt supplies to Europe from Russia, the world’s largest energy exporter. West Texas Intermediate was steady.

PRECIOUS METAL WRAP: Gold fell to the lowest level in more than 15 weeks as U.S. economic data that beat estimates backed the case for the Federal Reserve to keep on reducing monetary stimulus, while demand in China showed signs of waning.

GLOBAL EVENTS TO WATCH: BOE Gov Carney Speaks, BOJ Gov Kuroda Speaks, ANZ Business Confidence.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (JUNE) OVERVIEW:
TREND BEARISH
SUP1:2700
SUP2:2600
RESIST1:2855
RESIST2:2905
TRADING STRATEGY: SELL ON RISE
CS COPPER (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1: 410
SUP2:404
RESIST1:420
RESIST2:423
TRADING STRATEGY: BUY ON DIPS
CS JEERA (JUNE) OVERVIEW:
TREND BEARISH
SUP1:10900
SUP2:10760
RESIST1:11465
RESIST2:11670
TRADING STRATEGY: SELL ON RISE
CS CRUDE (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:6075
SUP2:5955
RESIST1:6220
RESIST2:6340
TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:5880
SUP2:5690
RESIST1:6070
RESIST2:6220
TRADING STRATEGY: SELL ON RISE
CS GOLD (JUNE) OVERVIEW:
TREND BEARISH
SUP1:26240
SUP2:25700
RESIST1:27160
RESIST2:27530
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:4450
SUP2:4320
RESIST1:4640
RESIST2:4755
TRADING STRATEGY: BUY ON DIPS
CS SILVER (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:39900
SUP2:39400
RESIST1:41750
RESIST2:43000
TRADING STRATEGY: SELL ON RISE

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