DAILY COMMODITY MARKET STRATEGY-6 JUne 2014

BASE METAL WRAP: Copper traded near a three-week low and headed for a second weekly drop on concern that a probe into financing transactions at China’s Qingdao Port will curb demand for the metal to use as collateral.

ENERGY WRAP: West Texas Intermediate crude swung between gains and losses before data that may signal the strength of the economy in the U.S., the world’s biggest oil consumer. Brent was steady in London.

PRECIOUS METAL WRAP:
Gold held near the highest level in four days, set to snap two weeks of losses, as investors awaited a U.S. labor report to assess the health of the world’s largest economy and the impact on monetary stimulus.

GLOBAL EVENTS TO WATCH:
Employment Change, Unemployment Rate, Labor Productivity q/q, Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m.
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: 400
SUP2:396
RESIST1:408
RESIST2:410
TRADING STRATEGY: SELL ON RISE
CS JEERA (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:10710
SUP2:10300
RESIST1:11260
RESIST2:11460
TRADING STRATEGY: SELL ON RISE
CS CRUDE (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:6000
SUP2:5950
RESIST1:6140
RESIST2:6200
TRADING STRATEGY: SELL ON RISE
CS TURMERIC (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:5880
SUP2:5780
RESIST1:6200
RESIST2:6320
TRADING STRATEGY: BUY ON DIPS
CS GOLD (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:25600
SUP2:24960
RESIST1:26000
RESIST2:26300
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 CONSOLIDATE
SUP1:39300
SUP2:38500
RESIST1:40600
RESIST2:41500
TRADING STRATEGY: SELL ON RISE

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