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

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