DAILY COMMODITY MARKET STRATEGY-3 July 2014
BASE METAL WRAP: Nickel advanced to the highest level in more than a month after an increase in U.S. employment fueled optimism that an economic recovery will boost demand.
ENERGY WRAP: West Texas Intermediate fell for a sixth day, the longest losing streak since May 2012, while Brent slid amid speculation that crude supplies will increase after Libyan rebels agreed to hand over two export terminals.
PRECIOUS METAL WRAP: Gold declined from a three-month high before employment data that may show the U.S. economy is gaining momentum. Platinum fell from the highest in 10 months, while palladium halted an eight-day advance.
GLOBAL EVENTS TO WATCH: Non-Manufacturing PMI, RBA Gov Stevens Speaks, Building Approvals m/m, Building Approvals m/m, Services PMI, Challenger Job Cuts y/y, Minimum Bid Rate, Trade Balance, ECB Press Conference, Non-Farm Employment Change, Trade Balance, Unemployment Claims, Unemployment Rate, Average Hourly Earnings m/m, Final Services PMI, ISM Non-Manufacturing PMI, Natural Gas Storage.
ENERGY WRAP: West Texas Intermediate fell for a sixth day, the longest losing streak since May 2012, while Brent slid amid speculation that crude supplies will increase after Libyan rebels agreed to hand over two export terminals.
PRECIOUS METAL WRAP: Gold declined from a three-month high before employment data that may show the U.S. economy is gaining momentum. Platinum fell from the highest in 10 months, while palladium halted an eight-day advance.
GLOBAL EVENTS TO WATCH: Non-Manufacturing PMI, RBA Gov Stevens Speaks, Building Approvals m/m, Building Approvals m/m, Services PMI, Challenger Job Cuts y/y, Minimum Bid Rate, Trade Balance, ECB Press Conference, Non-Farm Employment Change, Trade Balance, Unemployment Claims, Unemployment Rate, Average Hourly Earnings m/m, Final Services PMI, ISM Non-Manufacturing PMI, Natural Gas Storage.
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AGRI
COMMODITY
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BULLION
COMMODITY
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CS
CHANA (JULY) OVERVIEW:
TREND
CONSOLIDATE
SUP1:2747
SUP2:2695
RESIST1:2865
RESIST2:2935
TRADING
STRATEGY: SELL ON RISE |
CS
COPPER (AUG) OVERVIEW:
TREND
BULLISH
SUP1:428
SUP2:425
RESIST1:434
RESIST2:437
TRADING
STRATEGY: BUY ON DIPS |
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CS
JEERA (JULY) OVERVIEW:
TREND
CONSOLIDATE
SUP1:11000
SUP2:10800
RESIST1:11360
RESIST2:11500
TRADING
STRATEGY: BUY ON DIPS |
CS
CRUDE (JULY) OVERVIEW:
TREND
CONSOLIDATE
SUP1:6160
SUP2:6110
RESIST1:6290
RESIST2:6335
TRADING
STRATEGY: SELL ON RISE |
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CS
TURMERIC (JULY) OVERVIEW:
TREND
CONSOLIDATE
SUP1:6250
SUP2:6050
RESIST1:6350
RESIST2:6450
TRADING
STRATEGY: SELL ON RISE |
CS
GOLD (AUG) OVERVIEW:
TREND
CONSOLIDATE
SUP1:27450
SUP2:27300
RESIST1:27700
RESIST2:27940
TRADING
STRATEGY: SELL ON RISE |
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CS
SOYABEAN (JULY) OVERVIEW:
TREND
CONSOLIDATE
SUP1:3890
SUP2:3845
RESIST1:4010
RESIST2:4100
TRADING
STRATEGY: SELL ON RISE |
CS
SILVER (SEPTEMBER) OVERVIEW:
TREND
CONSOLIDATE
SUP1:44000
SUP2:43600
RESIST1:45700
RESIST2:46430
TRADING
STRATEGY: BUY ON DIPS |
Capitalstars Financial Research Private Limited is a research house and an investment advisory group.
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