DAILY COMMODITY MARKET STRATEGY-13 June 2014

BASE METAL WRAP: Copper in London pared a third weekly loss, the longest streak since March, as some physical demand outweighed concerns that a warehousing probe at China’s Qingdao port will curb demand for the metal.

ENERGY WRAP:
West Texas Intermediate crude headed for the biggest weekly advance, and Brent gained as escalating violence in Iraq threatened supplies from OPEC’s second-largest oil producer. Natural gas futures climbed the most in almost four months, reaching a five-week high, after a government report showed that a U.S. stockpile expansion was smaller than forecast.

PRECIOUS METAL WRAP:
Gold rose to a two-week high on demand for a haven. U.S. recovery may be stalling and violence in Iraq will escalate boosted demand for a haven. Gold advanced as equity markets declined, Platinum rose 0.5 percent to $1,451.38 an ounce, Silver rose as much as 0.5 percent to $19.6323 an ounce.

GLOBAL EVENTS TO WATCH: BOE Gov Carney Speaks, Monetary Policy Statement, Industrial Production y/y, Fixed Asset Investment ytd/y, Retail Sales y/y, BOJ Press Conference, Manufacturing Sales m/m, Manufacturing Sales m/m, PPI m/m, Core PPI m/m, Prelim UoM Consumer Sentiment, Prelim UoM Inflation Expectations.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:2740
SUP2:2650
RESIST1:2900
RESIST2:2935
TRADING STRATEGY: SELL ON RISE
CS COPPER (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1: 396
SUP2:394
RESIST1:404
RESIST2:407
TRADING STRATEGY: SELL ON RISE
CS JEERA (JULY) OVERVIEW:
TREND BULISH
SUP1:10980
SUP2:10760
RESIST1:11240
RESIST2:11460
TRADING STRATEGY: BUY ON DIPS
CS CRUDE (JUNE) OVERVIEW:
TREND BULLISH
SUP1:6300
SUP2:6220
RESIST1:6440
RESIST2:6550
TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:5850
SUP2:5750
RESIST1:6310
RESIST2:6440
TRADING STRATEGY: BUY ON DIPS
CS GOLD (AUG) OVERVIEW:
TREND BEARISH
SUP1:26100
SUP2:25940
RESIST1:26400
RESIST2:26920
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (JULY) OVERVIEW:
TREND BEARISH
SUP1:4260
SUP2:4190
RESIST1:4360
RESIST2:4400
TRADING STRATEGY: SELL ON RISE
CS SILVER (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:40800
SUP2:40400
RESIST1:41500
RESIST2:42000
TRADING STRATEGY: BUY ON DIPS

0 comments: