DAILY COMMODITY MARKET STRATEGY-17 July 2014

 
BASE METAL WRAP: Most industrial metals fell as copper dropped to a two-week low after Goldman Sachs Group Inc. forecast commodities will drop over the next five years on increasing supplies.

ENERGY WRAP:
West Texas Intermediate rose for a second day after U.S. crude stockpiles fell as refiners in the world’s biggest oil consumer boosted processing to the highest level since 2005. Brent was steady in London.

PRECIOUS METAL WRAP:
Gold held above a three-week low amid signs of increased demand in China and India, the world’s two largest consumers. Palladium futures climbed to the highest level since 2001.

GLOBAL EVENTS TO WATCH:
Building Permits, Unemployment Claims, Housing Starts, Philly Fed Manufacturing Index, Natural Gas Storage.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:2840
SUP2:2740
RESIST1:2895
RESIST2:2925
TRADING STRATEGY: SELL ON RISE
CS COPPER (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:428
SUP2:425
RESIST1:434
RESIST2:436
TRADING STRATEGY: SELL ON RISE
CS JEERA (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:11400
SUP2:11250
RESIST1:11780
RESIST2:11850
TRADING STRATEGY: BUY ON DIPS
CS CRUDE (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:6035
SUP2:5950
RESIST1:6150
RESIST2:6205
TRADING STRATEGY: SELL ON RISE
CS TURMERIC (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:6420
SUP2:6316
RESIST1:6830
RESIST2:7000
TRADING STRATEGY: BUY ON DIPS
CS GOLD (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:27550
SUP2:27350
RESIST1:27950
RESIST2:28250
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:3660
SUP2:3590
RESIST1:3780
RESIST2:3840
TRADING STRATEGY: SELL ON RISE
CS SILVER (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:44280
SUP2:43750
RESIST1:45300
RESIST2:45980
TRADING STRATEGY: SELL ON RISE

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