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