DAILY COMMODITY MARKET STRATEGY-18 June 2014

BASE METAL WRAP: Copper climbed for a fourth session amid speculation that demand will stabilize in China as policy makers try to support growth in the world’s largest consumer of industrial metals. Nickel advanced to a two-week high.

ENERGY WRAP: West Texas Intermediate rose for the first time in three days after an industry report showed U.S. crude stockpiles shrank and as Iraqi forces clashed with militants. Brent was steady in London.

PRECIOUS METAL WRAP:
Gold traded below the highest level in three weeks before the U.S. Federal Reserve concludes a two-day policy meeting today, while investors weighed tensions in Iraq and Ukraine.

GLOBAL EVENTS TO WATCH: MPC Asset Purchase Facility Votes, MPC Official Bank Rate Votes, MPC Member Weale Speaks, Wholesale Sales m/m, Current Account, Crude Oil Inventories, MPC Member Haldane Speaks, FOMC Economic Projections, FOMC Statement, Federal Funds Rate.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:2810
SUP2:2760
RESIST1:2935
RESIST2:2982
TRADING STRATEGY: BUY ON DIPS
CS COPPER (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:405
SUP2:400
RESIST1:410
RESIST2:414
TRADING STRATEGY: BUY ON DIPS
CS JEERA (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:10600
SUP2:10530
RESIST1:10900
RESIST2:11000
TRADING STRATEGY: SELL ON RISE
CS CRUDE (JUNE) OVERVIEW:
TREND BULLISH
SUP1:6350
SUP2:6310
RESIST1:6475
RESIST2:6550
TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:6150
SUP2:5930
RESIST1:6350
RESIST2:6440
TRADING STRATEGY: BUY ON DIPS
CS GOLD (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:26490
SUP2:26190
RESIST1:27100
RESIST2:27300
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (JULY) OVERVIEW:
TREND BEARISH
SUP1:4060
SUP2:4000
RESIST1:4220
RESIST2:4300
TRADING STRATEGY: SELL ON RISE
CS SILVER (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:41700
SUP2:41400
RESIST1:43000
RESIST2:43840
TRADING STRATEGY: BUY ON DIPS

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