DAILY COMMODITY MARKET STRATEGY-25 July 2014

BASE METAL WRAP: Copper futures rallied to a more than one-week high on Thursday, as investors cheered better than expected manufacturing data out of China, the world’s largest consumer of the red metal.

ENERGY WRAP: West Texas Intermediate headed for the third weekly decline this month amid speculation that rising U.S. gasoline stockpiles signal reduced demand in the world’s biggest oil consumer. Brent was steady in London.

PRECIOUS METAL WRAP: Gold headed for its second straight weekly decline as the outlook for improving economic growth curbed demand for the precious metal as a haven.

GLOBAL EVENTS TO WATCH:
ANZ Business Confidence, German Ifo Business Climate, Prelim GDP q/q, Core Durable Goods Orders m/m, Durable Goods Orders m/m.
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
RESIST1:436
RESIST2:439
TRADING STRATEGY: BUY ON DIPS
CS JEERA (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:11250
SUP2:11000
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: SELL ON RISE
CS TURMERIC (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:6316
SUP2:6260
RESIST1:6570
RESIST2:6700
TRADING STRATEGY: BUY ON DIPS
CS GOLD (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:27550
SUP2:27300
RESIST1:27800
RESIST2:28100
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
SUP1:43600
SUP2:42900
RESIST1:44400
RESIST2:44800
TRADING STRATEGY: SELL ON RISE

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