DAILY COMMODITY MARKET STRATEGY-1 Sep 2014

BASE METAL WRAP: COPPER futures ended higher on Friday while aluminium closed at an 18-month high as upbeat US economic data fanned hopes of stronger demand for industrial metals.

ENERGY WRAP: West Texas Intermediate crude capped the first weekly gain in more than a month on speculation an improving U.S. economy will boost fuel demand.

PRECIOUS METAL WRAP: Hedge funds cut their bullish gold bets for the fourth week in five, sending holdings to a two-month low, U.S. government data show. Open interest in New York futures is the smallest in five years, and assets in global exchange-traded products backed by the metal in August posted the biggest monthly drop since May.

GLOBAL EVENTS TO WATCH: Manufacturing PMI, HSBC Final Manufacturing PMI, Manufacturing PMI.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (SEPTEMBER)) OVERVIEW:
TREND CONSOLIDATE
SUP1:2760
SUP2:2650
RESIST1:2865
RESIST2:2900
TRADING STRATEGY: SELL ON RISE
CS COPPER (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:424
SUP2:420
RESIST1:434
RESIST2:438
TRADING STRATEGY: SELL ON RISE
CS JEERA (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:10970
SUP2:10850
RESIST1:11230
RESIST2:11460
TRADING STRATEGY: SELL ON RISE
CS CRUDE (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:5770
SUP2:5720
RESIST1:5900
RESIST2:5990
TRADING STRATEGY: SELL ON RISE
CS TURMERIC (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:6300
SUP2:6100
RESIST1:6750
RESIST2:6800
TRADING STRATEGY: SELL ON RISE
CS GOLD (OCTOBER) OVERVIEW:
TREND BEARISH
SUP1:27880
SUP2:27680
RESIST1:28270
RESIST2:28360
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (OCTOBER) OVERVIEW:
TREND BEARISH
SUP1:3300
SUP2:3250
RESIST1:3370
RESIST2:3490
TRADING STRATEGY: SELL ON RISE
CS SILVER (SEPTEMBER) OVERVIEW:
TREND BEARISH
SUP1:41700
SUP2:40500
RESIST1:42570
RESIST2:43000
TRADING STRATEGY: SELL ON RISE
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