DAILY COMMODITY MARKET STRATEGY-6 May 2014

BASE METAL WRAP: Nickel gained as the conflict in Ukraine’s east intensified. The metal is headed as the risk of tougher sanctions against Russia buoys prices that have rallied since Indonesia banned exports of raw ore.

ENERGY WRAP: West Texas Intermediate slipped for a second day amid speculation crude inventories at a record high expanded further in the U.S., the world’s biggest oil consumer.

PRECIOUS METAL WRAP:
Gold held near the highest price in three weeks as investors weighed escalating tension in Ukraine against signs of reduced demand from China, the top consumer.

GLOBAL EVENTS TO WATCH: Trade Balance, Cash Rate, RBA Rate Statement, Services PMI, Trade Balance, Trade Balance, Ivey PMI, IBD/TIPP Economic Optimism.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (JUNE) OVERVIEW:
TREND BEARISH
SUP1:3040
SUP2:2950
RESIST1:3115
RESIST2:3200
TRADING STRATEGY: SELL ON RISE
CAPITALSTARS.COM +919200099927 +919977499927
CS COPPER (JUNE) OVERVIEW:
TREND BEARISH
SUP1: 407
SUP2:405
RESIST1:414
RESIST2:418
TRADING STRATEGY: SELL ON RISE
CAPITALSTARS.COM +919200099927
CS JEERA (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:10500
SUP2:10280
RESIST1:10950
RESIST2:11255
TRADING STRATEGY: BUY ON DIPS
CAPITALSTARS.COM +919200099927
CS CRUDE (MAY) OVERVIEW:
TREND CONSOLIDATE
SUP1:5930
SUP2:5825
RESIST1:6070
RESIST2:6140
TRADING STRATEGY: SELL ON RISE
CAPITALSTARS.COM +919200099927
CS TURMERIC (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:6630
SUP2:6470
RESIST1:7000
RESIST2:7270
TRADING STRATEGY: SELL ON RISE
CAPITALSTARS.COM +919200099927
CS GOLD (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:28400
SUP2:28200
RESIST1:29060
RESIST2:29300
TRADING STRATEGY: BUY ON DIPS
CAPITALSTARS.COM +919200099927
CS SOYABEAN (JUNE) OVERVIEW:
TREND BULLISH
SUP1:4640
SUP2:4505
RESIST1:4870
RESIST2:5080
TRADING STRATEGY: BUY ON DIPS
CAPITALSTARS.COM +919200099927
CS SILVER (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:41300
SUP2:39950
RESIST1:43000
RESIST2:43840
TRADING STRATEGY: BUY ON DIPS
CAPITALSTARS.COM +919200099927

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