DAILY COMMODITY MARKET STRATEGY-24 July 2014

BASE METAL WRAP: Copper climbed for a fourth day, the longest rally in three weeks, on better-than-expected manufacturing data from China, the world’s largest user of industrial metals.

ENERGY WRAP: West Texas Intermediate swung between gains and losses after U.S. government data showed crude supplies at the delivery point for New York contracts shrank to the lowest level since 2008. Brent was steady in London.

PRECIOUS METAL WRAP: Gold fell to the lowest level in a week as a rally in equities damped demand for an alternative investment amid concern that physical consumption is faltering.

GLOBAL EVENTS TO WATCH: Official Cash Rate, RBNZ Rate Statement, Trade Balance, HSBC Flash Manufacturing PMI, French Flash Manufacturing PMI, German Flash Manufacturing PMI, Retail Sales m/m, Unemployment Claims, Flash Manufacturing PMI, New Home Sales, Natural Gas Storage.

AGRI COMMODITY	BULLION COMMODITY
CS CHANA (AUGUST) OVERVIEW: TREND CONSOLIDATE SUP1:2795 SUP2:2740 RESIST1:2855 RESIST2:2900 TRADING STRATEGY: SELL ON RISE	CS COPPER (AUG) OVERVIEW: TREND CONSOLIDATE SUP1:425 SUP2:422 RESIST1:432 RESIST2:437 TRADING STRATEGY: SELL ON RISE
CS JEERA (AUGUST) OVERVIEW: TREND CONSOLIDATE SUP1:11400 SUP2:11250 RESIST1:11620 RESIST2:11780 TRADING STRATEGY: SELL ON RISE	CS CRUDE (AUGUST) OVERVIEW: TREND CONSOLIDATE SUP1:6115 SUP2:6035 RESIST1:6230 RESIST2:6300 TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (AUGUST) OVERVIEW: TREND CONSOLIDATE SUP1:6316 SUP2:6260 RESIST1:6670 RESIST2:6830 TRADING STRATEGY: BUY ON DIPS	CS GOLD (AUG) OVERVIEW: TREND CONSOLIDATE SUP1:27550 SUP2:27300 RESIST1:28100 RESIST2:28600 TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (OCTOBER) OVERVIEW: TREND CONSOLIDATE SUP1:3660 SUP2:3600 RESIST1:3780 RESIST2:3860 TRADING STRATEGY: SELL ON RISE	CS SILVER (SEPTEMBER) OVERVIEW: TREND CONSOLIDATE SUP1:44300 SUP2:43900 RESIST1:45300 RESIST2:46000 TRADING STRATEGY: SELL ON RISE