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