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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