DAILY COMMODITY MARKET STRATEGY-30 June 2014

 
BASE METAL WRAP: Copper headed for its steepest rally in three quarters ahead of data tomorrow that may show industrial output sustained expansion in China, the biggest user. Nickel is set for the biggest quarterly gain since 2010.

ENERGY WRAP:
West Texas Intermediate and Brent crude fell amid speculation that continuing violence in Iraq won’t disrupt supply from OPEC’s second-largest oil producer.

PRECIOUS METAL WRAP: Gold headed for a second quarterly increase as investors weighed the outlook for the U.S. economy and low interest rates against signs of weaker physical demand. Silver extended a drop from the highest level since March.

GLOBAL EVENTS TO WATCH: ANZ Business Confidence, CPI Flash Estimate y/y, GDP m/m, Chicago PMI, Pending Home Sales m/m.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:2818
SUP2:2747
RESIST1:2935
RESIST2:3000
TRADING STRATEGY: BUY ON DIPS
CS COPPER (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:415
SUP2:412
RESIST1:420
RESIST2:424
TRADING STRATEGY: BUY ON DIPS
CS JEERA (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:11150
SUP2:11000
RESIST1:11360
RESIST2:11500
TRADING STRATEGY: BUY ON DIPS
CS CRUDE (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:6340
SUP2:6300
RESIST1:6420
RESIST2:6500
TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:6350
SUP2:6300
RESIST1:6580
RESIST2:6700
TRADING STRATEGY: BUY ON DIPS
CS GOLD (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:27600
SUP2:27490
RESIST1:27900
RESIST2:28300
TRADING STRATEGY: BUY ON DIPS
CS SOYABEAN (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:3950
SUP2:3890
RESIST1:4050
RESIST2:4100
TRADING STRATEGY: BUY ON DIPS
CS SILVER (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:44100
SUP2:43000
RESIST1:45000
RESIST2:45700
TRADING STRATEGY: BUY ON DIPS


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