DAILY COMMODITY MARKET STRATEGY-8 July 2014

BASE METAL WRAP: Nickel led industrial metals lower, falling for the third session as some investors deemed supply of the refined metal sufficient for now, even after Indonesia banned raw ore exports in January.

ENERGY WRAP: West Texas Intermediate traded near a one-month low, capping its longest losing streak since 2009 before U.S. stockpile data that may signal the strength of demand from the world’s biggest oil user. Brent slid in London.

PRECIOUS METAL WRAP: Gold held a retreat from a three-month high as investors assessed the timing of U.S. interest-rate increases. Palladium declined from the highest price since 2001 to snap the longest rally in 10 months.

GLOBAL EVENTS TO WATCH: NZIER Business Confidence, NAB Business Confidence, Manufacturing Production m/m, NFIB Small Business Index, JOLTS Job Openings, FOMC Member Kocherlakota Speaks.
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 CONSOLIDATE
SUP1:431
SUP2:427
RESIST1:437
RESIST2:440
TRADING STRATEGY: BUY ON DIPS
CS JEERA (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:11460
SUP2:11250
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
RESIST1:6830
RESIST2:7050
TRADING STRATEGY: BUY ON DIPS
CS GOLD (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:27300
SUP2:27100
RESIST1:27550
RESIST2:27700
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
RESIST1:45000
RESIST2:45700
TRADING STRATEGY: SELL ON RISE

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