DAILY COMMODITY MARKET STRATEGY-20 June 2014


BASE METAL WRAP: Copper futures held near the previous session’s two-week high on Thursday, amid mounting optimism over the outlook for growth in the U.S. and China, the world’s two largest consumers of the industrial metal.

ENERGY WRAP:
Brent crude headed for a second weekly gain as the U.S. said it will send military advisers to Iraq as violence escalates in the OPEC producer. West Texas Intermediate was steady in New York.

PRECIOUS METAL WRAP: Gold headed for the longest run of weekly advances since March after rising to a two-month high, as expectations that borrowing costs in the U.S. will remain low fueled demand for bullion as an alternative investment.

GLOBAL EVENTS TO WATCH: BOJ Gov Kuroda Speaks, Core CPI m/m, Core Retail Sales m/m.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (JULY) OVERVIEW:
TREND BEARISH
SUP1:2760
SUP2:2695
RESIST1:2840
RESIST2:2876
TRADING STRATEGY: SELL ON RISE
CS COPPER (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:407
SUP2:404
RESIST1:414
RESIST2:417
TRADING STRATEGY: BUY ON DIPS
CS JEERA (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:10640
SUP2:10530
RESIST1:10950
RESIST2:11200
TRADING STRATEGY: SELL ON RISE
CS CRUDE (JULY) OVERVIEW:
TREND BULLISH
SUP1:6340
SUP2:6300
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
SUP1:27400
SUP2:27100
RESIST1:27900
RESIST2:28300
TRADING STRATEGY: BUY ON DIPS
CS SOYABEAN (JULY) OVERVIEW:
TREND BEARISH
SUP1:4000
SUP2:3930
RESIST1:4076
RESIST2:4135
TRADING STRATEGY: SELL ON RISE
CS SILVER (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:43840
SUP2:43000
RESIST1:45000
RESIST2:45700
TRADING STRATEGY: BUY ON DIPS

 

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