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