DAILY COMMODITY MARKET STRATEGY-3 June 2014

 
BASE METAL WRAP: Copper rose as Chinese manufacturing grew at the fastest pace in five months. The Standard & Poor’s 500 Index advanced to close at a record for a third straight day.

ENERGY WRAP:
West Texas Intermediate swung between gains and losses amid speculation that crude stockpiles fell from a near-record high in the U.S., the world’s biggest oil consumer. Brent was steady in London.

PRECIOUS METAL WRAP: Gold held near a four-month low as signs that the U.S. economy is improving drove advances in the dollar and equities, eroding demand for alternative investments.

GLOBAL EVENTS TO WATCH:
Non-Manufacturing PMI, HSBC Final Manufacturing PMI, Cash Rate, RBA Rate Statement, Construction PMI, CPI Flash Estimate y/y, Factory Orders m/m, IBD/TIPP Economic Optimism, Total Vehicle Sales.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:2740
SUP2:2695
RESIST1:2880
RESIST2:2952
TRADING STRATEGY: SELL ON RISE
CS COPPER (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1: 410
SUP2:407
RESIST1:417
RESIST2:419
TRADING STRATEGY: BUY ON DIPS
CS JEERA (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:10710
SUP2:10500
RESIST1:11260
RESIST2:11460
TRADING STRATEGY: SELL ON RISE
CS CRUDE (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:6050
SUP2:6000
RESIST1:6140
RESIST2:6200
TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:5950
SUP2:5900
RESIST1:6170
RESIST2:6320
TRADING STRATEGY: SELL ON RISE
CS GOLD (AUG) OVERVIEW:
TREND BEARISH
SUP1:25600
SUP2:24960
RESIST1:26070
RESIST2:26250
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:4320
SUP2:4140
RESIST1:4505
RESIST2:4672
TRADING STRATEGY: SELL ON RISE
CS SILVER (JULY) OVERVIEW:
TREND BEARISH
SUP1:39300
SUP2:38500
RESIST1:39860
RESIST2:40200
TRADING STRATEGY: SELL ON RISE

0 comments: