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