DAILY COMMODITY MARKET STRATEGY-2 June 2014

BASE METAL WRAP: Copper futures capped the longest slump in four weeks amid concern that demand will slow in China, the world’s biggest metals consumer.

ENERGY WRAP: West Texas Intermediate crude rose for the second time in three days after manufacturing expanded at the fastest pace this year in China, the world’s second-biggest oil consumer. Brent advanced in London.

PRECIOUS METAL WRAP: Gold extended its biggest weekly drop since March after the Standard & Poor’s 500 Index climbed to a record and hedge funds pared bets on a rally in the metal at the fastest pace this year as demand for a haven declined.

GLOBAL EVENTS TO WATCH: Building Approvals m/m, German Prelim CPI m/m, Manufacturing PMI, Treasury Sec Lew Speaks, Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices.

AGRI COMMODITY	BULLION COMMODITY
CS CHANA (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1:2790 SUP2:2740 RESIST1:2955 RESIST2:3020 TRADING STRATEGY: SELL ON RISE	CS COPPER (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1: 409 SUP2:405 RESIST1:414 RESIST2:419 TRADING STRATEGY: BUY ON DIPS
CS JEERA (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1:10900 SUP2:10710 RESIST1:11260 RESIST2:11460 TRADING STRATEGY: SELL ON RISE	CS CRUDE (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1:6050 SUP2:6020 RESIST1:6200 RESIST2:6270 TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1:6110 SUP2:5950 RESIST1:6340 RESIST2:6400 TRADING STRATEGY: SELL ON RISE	CS GOLD (JUNE) OVERVIEW: TREND BEARISH SUP1:26400 SUP2:25240 RESIST1:27100 RESIST2:27530 TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1:4500 SUP2:4425 RESIST1:4670 RESIST2:4755 TRADING STRATEGY: SELL ON RISE	CS SILVER (JULY) OVERVIEW: TREND BEARISH SUP1:39300 SUP2:38500 RESIST1:40600 RESIST2:41500 TRADING STRATEGY: SELL ON RISE