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

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