DAILY COMMODITY MARKET STRATEGY-4 July 2014

BASE METAL WRAP: Nickel advanced to the highest since May as the U.S. unemployment rate fell to the lowest in almost six years, signaling that stronger economies will boost demand amid supply curbs.

ENERGY WRAP: West Texas Intermediate and Brent headed for a second weekly drop amid speculation that Iraq’s crude production will remain unaffected by violence and as Libya prepares to resume exports from two terminals.

PRECIOUS METAL WRAP: Gold held below a three-month high, trimming a fifth weekly rise, as investors assessed the outlook for higher U.S. borrowing costs after employment data beat estimates. Palladium traded near the highest price since 2001.

GLOBAL EVENTS TO WATCH: Retail PMI, Bank Holiday.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (JULY) OVERVIEW:
TREND BEARISH
SUP1:2695
SUP2:2600
RESIST1:2790
RESIST2:2835
TRADING STRATEGY: SELL ON RISE
CS COPPER (AUG) OVERVIEW:
TREND BULLISH
SUP1:430
SUP2:425
RESIST1:437
RESIST2:440
TRADING STRATEGY: BUY ON DIPS
CS JEERA (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:11000
SUP2:10800
RESIST1:11360
RESIST2:11500
CS CRUDE (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:6160
SUP2:6110
RESIST1:6290
RESIST2:6335
TRADING STRATEGY: SELL ON RISE
CS TURMERIC (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:6250
SUP2:6050
RESIST1:6490
RESIST2:6700
TRADING STRATEGY: SELL ON RISE
CS GOLD (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:27300
SUP2:27100
RESIST1:27700
RESIST2:27940
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (JULY) OVERVIEW:
TREND BEARISH
SUP1:3890
SUP2:3845
RESIST1:3982
RESIST2:4050
TRADING STRATEGY: SELL ON RISE
CS SILVER (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:44000
SUP2:43600
RESIST1:45700
RESIST2:46430
TRADING STRATEGY: BUY ON DIPS

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