DAILY COMMODITY MARKET STRATEGY-14 July 2014

BASE METAL WRAP: London copper was marking time on Monday following four weeks of gains driven by tightening supply, with summer holidays in the northern hemisphere muting trade.

ENERGY WRAP: Brent crude traded near the lowest price in three months as Libya’s oil output continued to increase, easing the threat of supply disruptions from the Middle East. West Texas Intermediate was steady in New York.

PRECIOUS METAL WRAP: Gold dropped from a four-month high as investors weighed signs that the rally may be excessive after six weeks of gains and Goldman Sachs Group Inc. restated a forecast for lower prices. Silver, platinum and palladium fell.

GLOBAL EVENTS TO WATCH:
Industrial Production m/m, ECB President Draghi Speaks.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:2740
SUP2:2695
RESIST1:2925
RESIST2:3020
TRADING STRATEGY: SELL ON RISE
CS COPPER (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:433
SUP2:430
RESIST1:439
RESIST2:443
TRADING STRATEGY: BUY ON DIPS
CS JEERA (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:11400
SUP2:11250
RESIST1:11820
RESIST2:12100
TRADING STRATEGY: BUY ON DIPS
CS CRUDE (JULY) OVERVIEW:
TREND BEARISH
SUP1:6010
SUP2:5950
RESIST1:6151
RESIST2:6205
TRADING STRATEGY: SELL ON RISE
CS TURMERIC (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:6316
SUP2:6164
RESIST1:6660
RESIST2:6830
TRADING STRATEGY: BUY ON DIPS
CS GOLD (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:28100
SUP2:27940
RESIST1:28600
RESIST2:28850
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
SUP1:45100
SUP2:44280
RESIST1:46400
RESIST2:47300
TRADING STRATEGY: BUY ON DIPS

0 comments: