DAILY COMMODITY MARKET STRATEGY-11 June 2014

BASE METAL WRAP: Copper looks weak as an investigation into metal financing in China prompted concern that a crackdown could hit trade in the metal, while aluminium and zinc retreated from multi-month highs as traders cashed in on recent gains.

ENERGY WRAP: West Texas Intermediate traded near the highest price in three months amid speculation that crude inventories fell for a second week in the U.S., the world’s biggest oil consumer. Brent was steady in London.

PRECIOUS METAL WRAP: Gold rose toward the highest level in almost two weeks as prices that declined to a four-month low spurred physical purchases. Platinum and palladium holdings in exchange-traded products expanded to records.

GLOBAL EVENTS TO WATCH: Westpac Consumer Sentiment, OPEC Meetings, Claimant Count Change, Unemployment Rate, Crude Oil Inventories, 10-y Bond Auction, Federal Budget Balance.

AGRI COMMODITY	BULLION COMMODITY
CS CHANA (JULY) OVERVIEW: TREND BEARISH SUP1:2740 SUP2:2650 RESIST1:2840 RESIST2:2880 TRADING STRATEGY: SELL ON RISE	CS COPPER (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1: 397 SUP2:394 RESIST1:404 RESIST2:407 TRADING STRATEGY: SELL ON RISE
CS JEERA (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:10700 SUP2:10530 RESIST1:11000 RESIST2:11250 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 SUP1:5850 SUP2:5750 RESIST1:6070 RESIST2:6320 TRADING STRATEGY: SELL ON RISE	CS GOLD (AUG) OVERVIEW: TREND CONSOLIDATE SUP1:25940 SUP2:25600 RESIST1:26400 RESIST2:26920 TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:4180 SUP2:4140 RESIST1:4420 RESIST2:4550 TRADING STRATEGY: SELL ON RISE	CS SILVER (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:40100 SUP2:39800 RESIST1:40800 RESIST2:41500 TRADING STRATEGY: SELL ON RISE