DAILY COMMODITY MARKET STRATEGY-16 June 2014

BASE METAL WRAP: Shanghai copper rose to the highest in ten days on Monday, buoyed by prospects of further economic stimulus in China and technical buying after prices broke through a key chart level.

ENERGY WRAP:
crude oil is in climbed for a fourth day in WTI  and Brent crude gained on concern that escalating violence in Iraq threatens to disrupt supplies from OPEC’s second-largest producer. Oil rose high as the escalation of violence in Iraq stoked concern crude supplies will be disrupted.

PRECIOUS METAL WRAP:
Gold climbed to the highest level in almost three weeks, extending a second weekly increase, as escalating violence in Iraq spurred demand for a haven. Silver reached a one-month high, while platinum and palladium rose.

GLOBAL EVENTS TO WATCH: Empire State Manufacturing Index, TIC Long-Term Purchases, Capacity Utilization Rate, Industrial Production m/m, NAHB Housing Market Index.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:2790
SUP2:2740
RESIST1:2910
RESIST2:2935
TRADING STRATEGY: SELL ON RISE
CS COPPER (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1: 401
SUP2:399
RESIST1:405
RESIST2:409
TRADING STRATEGY: BUY ON DIPS
CS JEERA (JULY) OVERVIEW:
TREND BULISH
SUP1:10980
SUP2:10870
RESIST1:11235
RESIST2:11460
TRADING STRATEGY: BUY ON DIPS
CS CRUDE (JUNE) OVERVIEW:
TREND BULLISH
SUP1:6400
SUP2:6350
RESIST1:6470
RESIST2:6550
TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:6150
SUP2:6060
RESIST1:6440
RESIST2:6680
TRADING STRATEGY: BUY ON DIPS
CS GOLD (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:26490
SUP2:26190
RESIST1:27100
RESIST2:27525
TRADING STRATEGY: BUY ON DIPS
CS SOYABEAN (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:4250
SUP2:4220
RESIST1:4360
RESIST2:4400
TRADING STRATEGY: SELL ON RISE
CS SILVER (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:41900
SUP2:41400
RESIST1:43000
RESIST2:43840
TRADING STRATEGY: BUY ON DIPS

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