DAILY COMMODITY MARKET STRATEGY-11 July 2014

BASE METAL WRAP: Nickel prices slid on Thursday as inventories rose, giving investors a reminder of an overhang of material despite an Indonesian export ban. Copper rebounded after upbeat U.S. jobs data raised the prospect of higher demand for industrial metals.

ENERGY WRAP:
West Texas Intermediate headed for a third weekly drop as Libya boosted its crude output and gasoline stockpiles expanded in the U.S., the world’s biggest oil consumer. Brent was steady in London.

PRECIOUS METAL WRAP: Gold held near a four-month high, heading for the longest run of weekly gains since March, as concern Europe’s economy remains vulnerable to shocks and rising tension in the Middle East boosted haven demand. Palladium traded near a 13-year high, set for a fourth weekly advance.

GLOBAL EVENTS TO WATCH:
Unemployment Rate, Employment Change, Federal Budget Balance.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (AUGUST) OVERVIEW:
TREND BEARISH
SUP1:2740
SUP2:2695
RESIST1:2820
RESIST2:2925
TRADING STRATEGY: SELL ON RISE
CS COPPER (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:430
SUP2:425
RESIST1:439
RESIST2:443
TRADING STRATEGY: BUY ON DIPS
CS JEERA (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:11400
SUP2:11250
RESIST1:11700
RESIST2:11820
TRADING STRATEGY: BUY ON DIPS
CS CRUDE (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:6140
SUP2:6055
RESIST1:6260
RESIST2:6340
TRADING STRATEGY: SELL ON RISE
CS TURMERIC (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:6316
SUP2:6164
RESIST1:6480
RESIST2:6600
TRADING STRATEGY: SELL ON RISE
CS GOLD (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:28240
SUP2:27940
RESIST1:28840
RESIST2:29040
TRADING STRATEGY: BUY ON DIPS
CS SOYABEAN (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:3660
SUP2:3590
RESIST1:3780
RESIST2:3870
TRADING STRATEGY: SELL ON RISE
CS SILVER (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:44000
SUP2:43600
RESIST1:45500
RESIST2:44900
TRADING STRATEGY: BUY ON DIPS

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