DAILY COMMODITY MARKET STRATEGY-7 July 2014

BASE METAL WRAP: Nickel fell from a six-week high in London amid speculation supply of the metal is ample for now, easing concern about a potential shortage after Indonesia barred exports of raw ores in January. London copper began the week little changed; broadly holding on to last week's 3 percent gains on tighter-than-expected supply.

ENERGY WRAP:
Brent traded near the lowest price in more than three weeks as Libya prepares to increase exports and amid speculation that Iraq’s crude supplies remain safe from violence. West Texas Intermediate was steady in New York.

PRECIOUS METAL WRAP:
Gold extended a decline from a three-month high as the outlook for higher borrowing costs in the U.S. strengthened the dollar. Palladium traded near the highest price since 2001 and silver dropped.

GLOBAL EVENTS TO WATCH:
Building Permits m/m, Ivey PMI.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (AUGUST) OVERVIEW:
TREND BEARISH
SUP1:2740
SUP2:2695
RESIST1:2840
RESIST2:2925
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 (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:11250
SUP2:11000
RESIST1:11700
RESIST2:11820
TRADING STRATEGY: BUY ON DIPS
CS CRUDE (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:6160
SUP2:6110
RESIST1:6290
RESIST2:6335
TRADING STRATEGY: SELL ON RISE
CS TURMERIC (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:6430
SUP2:6316
RESIST1:6728
RESIST2:6830
TRADING STRATEGY: BUY ON DIPS
CS GOLD (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:27300
SUP2:27100
RESIST1:27700
RESIST2:27960
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:3690
SUP2:3660
RESIST1:3870
RESIST2:3945
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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