DAILY COMMODITY MARKET STRATEGY-1 July 2014

BASE METAL WRAP: Copper rose, capping the biggest quarterly advance since September, as gains in the housing market signaled higher demand in the U.S., the world’s second-largest consumer.

ENERGY WRAP:
West Texas Intermediate traded near the lowest price in more than two weeks amid speculation that escalating violence in Iraq won’t disrupt supply from OPEC’s second-biggest oil producer. Brent was steady in London.

PRECIOUS METAL WRAP:
Gold traded near the highest level since March after assets in the SPDR Gold Trust increased and investors weighed the outlook for growth and interest rates in the U.S. before manufacturing data.

GLOBAL EVENTS TO WATCH:
Manufacturing PMI, HSBC Final Manufacturing PMI, Cash Rate, RBA Rate Statement, Manufacturing PMI, Treasury Sec Lew Speaks, Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, IBD/TIPP Economic Optimism, ISM Manufacturing Prices, Total Vehicle Sales.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:2875
SUP2:2818
RESIST1:2935
RESIST2:3000
TRADING STRATEGY: BUY ON DIPS
CS COPPER (AUG) OVERVIEW:
TREND BULLISH
SUP1:425
SUP2:422
RESIST1:434
RESIST2:440
TRADING STRATEGY: BUY ON DIPS
CS JEERA (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:11150
SUP2:11000
RESIST1:11500
RESIST2:11700
TRADING STRATEGY: BUY ON DIPS
CS CRUDE (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:6340
SUP2:6300
RESIST1:6420
RESIST2:6500
TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:6500
SUP2:6350
RESIST1:6700
RESIST2:6850
TRADING STRATEGY: BUY ON DIPS
CS GOLD (AUG) OVERVIEW:
TREND BULLISH
SUP1:27750
SUP2:27490
RESIST1:28020
RESIST2:28300
TRADING STRATEGY: BUY ON DIPS
CS SOYABEAN (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:4050
SUP2:4000
RESIST1:4135
RESIST2:4205
TRADING STRATEGY: BUY ON DIPS
CS SILVER (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:43800
SUP2:43000
RESIST1:45000
RESIST2:45700
TRADING STRATEGY: BUY ON DIPS

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