DAILY COMMODITY MARKET STRATEGY-2 July 2014

BASE METAL WRAP: Copper prices climbed to a 16-week high in London as manufacturing expanded at the fastest pace this year in China, the world’s largest user of the metal used in pipes and wires.

ENERGY WRAP: West Texas Intermediate crude traded near the lowest price in almost three weeks before stockpile data that may signal the strength of fuel demand in the U.S., the world’s biggest oil consumer. Brent was steady in London.

PRECIOUS METAL WRAP: Gold traded below a three-month high on signs that the rally damped physical demand and as investors assessed the outlook for U.S. borrowing costs before Federal Reserve Chair Janet Yellen speaks today. Platinum fell from the highest since September and palladium snapped a seven-day rally.

GLOBAL EVENTS TO WATCH: Trade Balance, Construction PMI, Challenger Job Cuts y/y, ADP Non-Farm Employment Change, Factory Orders m/m, Crude Oil Inventories, Fed Chair Yellen Speaks.

AGRI COMMODITY	BULLION COMMODITY
CS CHANA (JULY) OVERVIEW: TREND BEARISH SUP1:2747 SUP2:2695 RESIST1:2875 RESIST2:2935 TRADING STRATEGY: SELL ON RISE	CS COPPER (AUG) OVERVIEW: TREND CONSOLIDATE SUP1:425 SUP2:422 RESIST1:430 RESIST2:434 TRADING STRATEGY: BUY ON DIPS
CS JEERA (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:11150 SUP2:11000 RESIST1:11500 RESIST2:11700 TRADING STRATEGY: BUY ON DIPS	CS CRUDE (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:6300 SUP2:6260 RESIST1:6420 RESIST2:6500 TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:6450 SUP2:6350 RESIST1:6700 RESIST2:6850 TRADING STRATEGY: BUY ON DIPS	CS GOLD (AUG) OVERVIEW: TREND CONSOLIDATE SUP1:27650 SUP2:27490 RESIST1:28020 RESIST2:28300 TRADING STRATEGY: BUY ON DIPS
CS SOYABEAN (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:4050 SUP2:4000 RESIST1:4135 RESIST2:4205 TRADING STRATEGY: BUY ON DIPS	CS SILVER (SEPTEMBER) OVERVIEW: TREND CONSOLIDATE SUP1:44200 SUP2:43600 RESIST1:45700 RESIST2:46430 TRADING STRATEGY: BUY ON DIPS