DAILY COMMODITY MARKET STRATEGY-29 May 2014

BASE METAL WRAP: Copper climbed to 11-week high in London amid speculation that rising global equity markets indicate a favorable outlook for economic growth. Aluminum touched a one-month high.

ENERGY WRAP: West Texas Intermediate rose for the first time in three days after the American Petroleum Institute reported that crude inventories shrank at the delivery point for New York contracts. Brent was steady in London.

PRECIOUS METAL WRAP: Gold fell to the lowest level in 16 weeks as investors assessed whether tension between Russia and Ukraine is easing and after the euro weakened, reducing the appeal of the metal.

GLOBAL EVENTS TO WATCH:
Private Capital Expenditure q/q, Prelim GDP q/q, Unemployment Claims, Prelim GDP Price Index q/q, Pending Home Sales m/m, Natural Gas Storage, Crude Oil Inventories.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (JUNE) OVERVIEW:
TREND BEARISH
SUP1:2740
SUP2:2700
RESIST1:2860
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 CONSOLIDATE
SUP1:10900
SUP2:10760
RESIST1:11465
RESIST2:11670
TRADING STRATEGY: SELL ON RISE
CS CRUDE (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:6020
SUP2:5930
RESIST1:6110
RESIST2:6200
TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:5880
SUP2:5690
RESIST1:6250
RESIST2:6380
TRADING STRATEGY: SELL ON RISE
CS GOLD (JUNE) OVERVIEW:
TREND BEARISH
SUP1:26240
SUP2:25700
RESIST1:27100
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 BEARISH
SUP1:39900
SUP2:39400
RESIST1:40600
RESIST2:41500
TRADING STRATEGY: SELL ON RISE

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