DAILY COMMODITY MARKET STRATEGY-1 Aug 2014
BASE METAL WRAP: London copper eased on Friday after a rout on Wall Street over Argentinian default soured risk appetite and ahead of a deluge of economic indicators out later in the session, including an assessment of activity in China's vast manufacturing sector.
ENERGY WRAP: West Texas Intermediate fell for a fifth day after capping the biggest monthly decline in more than two years amid signs of weaker fuel demand in the U.S., the world’s biggest oil consumer. Brent was steady in London.
PRECIOUS METAL WRAP: Gold headed for a third weekly loss in the longest run of declines since September as U.S. employment data may add to signs that the world’s largest economy is gaining traction.
GLOBAL EVENTS TO WATCH: Manufacturing PMI, PPI q/q, HSBC Final Manufacturing PMI, BOJ Gov Kuroda Speaks, Manufacturing PMI, Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m, Core PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, Final Manufacturing PMI, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations, ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices, Total Vehicle Sales.
ENERGY WRAP: West Texas Intermediate fell for a fifth day after capping the biggest monthly decline in more than two years amid signs of weaker fuel demand in the U.S., the world’s biggest oil consumer. Brent was steady in London.
PRECIOUS METAL WRAP: Gold headed for a third weekly loss in the longest run of declines since September as U.S. employment data may add to signs that the world’s largest economy is gaining traction.
GLOBAL EVENTS TO WATCH: Manufacturing PMI, PPI q/q, HSBC Final Manufacturing PMI, BOJ Gov Kuroda Speaks, Manufacturing PMI, Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m, Core PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, Final Manufacturing PMI, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations, ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices, Total Vehicle Sales.
AGRI
COMMODITY
|
BULLION
COMMODITY
|
CS
CHANA (AUGUST) OVERVIEW:
TREND
CONSOLIDATE
SUP1:2740
SUP2:2695
RESIST1:2840
RESIST2:2926
TRADING
STRATEGY: SELL ON RISE |
CS
COPPER (AUG) OVERVIEW:
TREND
CONSOLIDATE
SUP1:432
SUP2:428
RESIST1:438
RESIST2:440
TRADING
STRATEGY: BUY ON DIPS |
CS
JEERA (AUGUST) OVERVIEW:
TREND
CONSOLIDATE
SUP1:11040
SUP2:10970
RESIST1:11570
RESIST2:11780
TRADING
STRATEGY: SELL ON RISE |
CS
CRUDE (AUGUST) OVERVIEW:
TREND
CONSOLIDATE
SUP1:5950
SUP2:5930
RESIST1:6084
RESIST2:6145
TRADING
STRATEGY: SELL ON RISE |
CS
TURMERIC (AUGUST) OVERVIEW:
TREND
CONSOLIDATE
SUP1:6370
SUP2:6300
RESIST1:6490
RESIST2:6572
TRADING
STRATEGY: BUY ON DIPS |
CS
GOLD (AUG) OVERVIEW:
TREND
CONSOLIDATE
SUP1:27600
SUP2:27300
RESIST1:28100
RESIST2:28400
TRADING
STRATEGY: SELL ON RISE |
CS
SOYABEAN (OCTOBER) OVERVIEW:
TREND
CONSOLIDATE
SUP1:3580
SUP2:3500
RESIST1:3704
RESIST2:3750
TRADING
STRATEGY: SELL ON RISE |
CS
SILVER (SEPTEMBER) OVERVIEW:
TREND
CONSOLIDATE
SUP1:43600
SUP2:42900
RESIST1:44800
RESIST2:45300
TRADING
STRATEGY: SELL ON RISE |
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