DAILY COMMODITY MARKET STRATEGY-10 June 2014

BASE METAL WRAP: Copper fell for a fifth session in New York, the longest slump in more than three months, as demand concerns mounted amid slumping imports of the metal into China, the world’s biggest user.

ENERGY WRAP: West Texas Intermediate advanced for a third day amid speculation that crude inventories declined for a second week in the U.S., the world’s biggest oil consumer. Brent was steady in London. Natural gas futures slipped from a one-month high in New York as cooler weather in the central U.S. limited demand for the power-plant fuel.

PRECIOUS METAL WRAP: Gold held above the lowest level in four months on speculation that price declines after a rally in equity markets may spur purchases.

GLOBAL EVENTS TO WATCH: NAB Business Confidence, CPI y/y, PPI y/y, Manufacturing Production m/m, Industrial Production m/m, NFIB Small Business Index, JOLTS Job Openings, Wholesale Inventories m/m.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (JULY) OVERVIEW:
TREND BEARISH
SUP1:2740
SUP2:2650
RESIST1:2810
RESIST2:2880
TRADING STRATEGY: SELL ON RISE
CS COPPER (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1: 392
SUP2:386
RESIST1:400
RESIST2:405
TRADING STRATEGY: SELL ON RISE
CS JEERA (JULY) OVERVIEW:
TREND BEARISH
SUP1:10700
SUP2:10530
RESIST1:10900
RESIST2:11000
TRADING STRATEGY: SELL ON RISE
CS CRUDE (JUNE) OVERVIEW:
TREND BULLISH
SUP1:6150
SUP2:6100
RESIST1:6270
RESIST2:6340
TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:5750
SUP2:5650
RESIST1:6060
RESIST2:6320
TRADING STRATEGY: SELL ON RISE
CS GOLD (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:25600
SUP2:24960
RESIST1:26150
RESIST2:26520
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:4180
SUP2:4140
RESIST1:4305
RESIST2:4345
TRADING STRATEGY: SELL ON RISE
CS SILVER (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:39800
SUP2:39300
RESIST1:40800
RESIST2:41500
TRADING STRATEGY: SELL ON RISE

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