DAILY COMMODITY MARKET STRATEGY-19 June 2014

BASE METAL WRAP: Janet Yellen did more of the usual as widely expected, the Fed pushed ahead with plans to wind down one of its main stimulus programs, reducing its monthly asset purchases from $45 billion to $35 billion beginning in July. Nickel-Prices corrected sharply post the inventories showed a massive increase in the stocks and the cancelled warrant ratio also declined.

ENERGY WRAP: West Texas Intermediate rose for the first time in four days after a government report showed U.S. crude supplies shrank and as Iraqi forces battled insurgents north of Baghdad. Brent extended gains in London.

PRECIOUS METAL WRAP: Gold traded near the highest level in three weeks as the U.S. Federal Reserve trimmed its outlook for economic growth and said interest rates will remain low, boosting demand for bullion as an alternative investment.

GLOBAL EVENTS TO WATCH: FOMC Press Conference, GDP q/q, Libor Rate, SNB Monetary Policy Assessment, SNB Press Conference, Retail Sales m/m, Unemployment Claims, Philly Fed Manufacturing Index, CB Leading Index m/m, Natural Gas Storage.

AGRI COMMODITY	BULLION COMMODITY
CS CHANA (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:2810 SUP2:2760 RESIST1:2870 RESIST2:2935 TRADING STRATEGY: BUY ON DIPS	CS COPPER (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1:401 SUP2:394 RESIST1:408 RESIST2:410 TRADING STRATEGY: SELL ON RISE
CS JEERA (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:10670 SUP2:10530 RESIST1:10950 RESIST2:11200 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 BULLISH SUP1:6400 SUP2:6330 RESIST1:6580 RESIST2:6680 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 SUP1:4050 SUP2:4000 RESIST1:4120 RESIST2:4180 TRADING STRATEGY: SELL ON RISE	CS SILVER (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:41700 SUP2:41400 RESIST1:43000 RESIST2:43840 TRADING STRATEGY: SELL ON RISE