DAILY COMMODITY MARKET STRATEGY-9 June 2014

BASE METAL WRAP: Copper traded near a four-week low as investors weighed improving economic data out of China and the U.S. against a metals-warehousing probe at a Chinese port. Hedge funds cut bullish copper bets by the most in a month on concern that a supply surplus will return as demand growth slackens in Europe and China.

ENERGY WRAP:
West Texas Intermediate crude traded near the highest price in three days amid signs that economic growth is being sustained in China and the U.S., the world’s two biggest oil consumers. Brent was steady in London.

PRECIOUS METAL WRAP:
Gold was firm above $1,250 an ounce on Monday after U.S. jobs data matched expectations, while a rally in stocks curbed the metal's appeal as an investment hedge.

GLOBAL EVENTS TO WATCH: RBA Gov Stevens Speaks.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (JULY) OVERVIEW:
TREND BEARISH
SUP1:2740
SUP2:2650
RESIST1:2815
RESIST2:2935
TRADING STRATEGY: SELL ON RISE
CS COPPER (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1: 392
SUP2:386
RESIST1:400
RESIST2:405
TRADING STRATEGY: SELL ON RISE
CS JEERA (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:10710
SUP2:10300
RESIST1:10900
RESIST2:11050
TRADING STRATEGY: SELL ON RISE
CS CRUDE (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:6000
SUP2:5950
RESIST1:6115
RESIST2:6160
TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:5880
SUP2:5780
RESIST1:6000
RESIST2:6150
TRADING STRATEGY: SELL ON RISE
CS GOLD (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:25600
SUP2:24960
RESIST1:26000
RESIST2:26300
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:4220
SUP2:4140
RESIST1:4345
RESIST2:4400
TRADING STRATEGY: SELL ON RISE
CS SILVER (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:39300
SUP2:38500
RESIST1:40600
RESIST2:41500
TRADING STRATEGY: SELL ON RISE

0 comments: