DAILY COMMODITY MARKET STRATEGY-8 May 2014

BASE METAL WRAP: Copper prices edged lower on Wednesday, amid ongoing concerns over the health of China’s economy. Data released earlier showed that China’s HSBC Services Purchasing Managers Index ticked down to 51.4 in April from 51.9 in March, underlining concerns that an economic slowdown in the world’s second-largest economy is deepening.

ENERGY WRAP: West Texas Intermediate traded near the highest price in a week after crude inventories shrank for the first time since March in the U.S., the world’s biggest oil consumer. Brent was steady in London.

PRECIOUS METAL WRAP: Gold held below $1,300 an ounce after the biggest one-day drop in three weeks on speculation that the U.S. Federal Reserve will further reduce monetary stimulus as the economy recovers.

GLOBAL EVENTS TO WATCH: Employment Change, Unemployment Rate, Asset Purchase Facility, Official Bank Rate, MPC Rate Statement, Minimum Bid Rate, ECB Press Conference, Unemployment Claims, Fed Chair Yellen Testifies, FOMC Member Tarullo Speaks, Natural Gas Storage, 30-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: 404
SUP2:399
RESIST1:414
RESIST2:423
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
RESIST1:6140
RESIST2:6205
TRADING STRATEGY: BUY ON DIPS
CAPITALSTARS.COM +919200099927
CS TURMERIC (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:6600
SUP2:6470
RESIST1:6780
RESIST2:6900
TRADING STRATEGY: BUY ON DIPS
CAPITALSTARS.COM +919200099927
CS GOLD (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:28200
SUP2:28000
RESIST1:28850
RESIST2:29100
TRADING STRATEGY: SELL ON RISE
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
SUP1:41500
SUP2:40500
RESIST1:43000
RESIST2:43840
TRADING STRATEGY: SELL ON RISE
CAPITALSTARS.COM +919200099927

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