DAILY COMMODITY MARKET STRATEGY-7 MAY
BASE METAL WRAP: Nickel climbed for a second day to trade near a 15-month high on concern that global supplies will be disrupted as tensions between Russia and Ukraine were escalating and Indonesia stopped ore exports.
ENERGY WRAP: West Texas Intermediate advanced for a second day after an industry report showed crude stockpiles declined in the U.S., the world’s biggest oil consumer. Brent gained in London.
PRECIOUS METAL WRAP: Gold rose toward a three-week high as investors weighed tension in Ukraine against signs of an improving U.S. economy. Palladium was near the highest level since August 2011.
GLOBAL EVENTS TO WATCH: Employment Change q/q, Unemployment Rate, Retail Sales m/m, Building Permits m/m, Prelim Nonfarm Productivity q/q, Prelim Unit Labor Costs q/q, Fed Chair Yellen Testifies, Crude Oil Inventories, 10-y Bond Auction.
ENERGY WRAP: West Texas Intermediate advanced for a second day after an industry report showed crude stockpiles declined in the U.S., the world’s biggest oil consumer. Brent gained in London.
PRECIOUS METAL WRAP: Gold rose toward a three-week high as investors weighed tension in Ukraine against signs of an improving U.S. economy. Palladium was near the highest level since August 2011.
GLOBAL EVENTS TO WATCH: Employment Change q/q, Unemployment Rate, Retail Sales m/m, Building Permits m/m, Prelim Nonfarm Productivity q/q, Prelim Unit Labor Costs q/q, Fed Chair Yellen Testifies, Crude Oil Inventories, 10-y Bond Auction.
AGRI COMMODITY |
BULLION COMMODITY |
CS CHANA
(JUNE) OVERVIEW:
TREND
BEARISH
SUP1:2995
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
SUP1:6600
SUP2:6470
RESIST1:6780
RESIST2:6900
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
CONSOLIDATE
SUP1:4640
SUP2:4505
RESIST1:4820
RESIST2:4870
TRADING
STRATEGY: BUY ON DIPS
CAPITALSTARS.COM +919200099927 |
CS SILVER
(JULY) OVERVIEW:
TREND
CONSOLIDATE
SUP1:42000
SUP2:41300
RESIST1:43000
RESIST2:43840
TRADING
STRATEGY: BUY ON DIPS
CAPITALSTARS.COM +919200099927 |
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