DAILY COMMODITY MARKET STRATEGY-21 July 2014

BASE METAL WRAP: London copper held near its lowest in three weeks on Monday, hemmed in by nagging worries over China's property sector and a big Chinese stock build that highlighted an expected market surplus in the second half.

ENERGY WRAP: Brent swung between gains and losses amid speculation that the downing of a Malaysian Air jet will have no impact on supplies from Russia, the world’s largest energy exporter. West Texas Intermediate was steady in New York. Natural gas futures in the U.S. dropped for a third day to the lowest level in almost eight months as inventories rebounded at the quickest rate since 2001.

PRECIOUS METAL WRAP: Gold traded little changed after the first weekly loss in seven as investors weighed the outlook for higher U.S. borrowing costs against demand for a haven amid unrest in Ukraine and Gaza. Palladium was near a 13-year high.

GLOBAL EVENTS TO WATCH: German PPI m/m.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:2840
SUP2:2740
RESIST1:2925
RESIST2:2990
TRADING STRATEGY: SELL ON RISE
CS COPPER (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:425
SUP2:422
RESIST1:429
RESIST2:432
TRADING STRATEGY: SELL ON RISE
CS JEERA (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:11585
SUP2:11400
RESIST1:11780
RESIST2:11900
TRADING STRATEGY: BUY ON DIPS
CS CRUDE (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:6115
SUP2:6035
RESIST1:6220
RESIST2:6255
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
SUP1:27900
SUP2:27550
RESIST1:28400
RESIST2:28600
TRADING STRATEGY: BUY ON DIPS
CS SOYABEAN (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:3700
SUP2:3660
RESIST1:3780
RESIST2:3840
TRADING STRATEGY: SELL ON RISE
CS SILVER (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:44750
SUP2:43900
RESIST1:45980
RESIST2:46400
TRADING STRATEGY: SELL ON RISE

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