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