DAILY COMMODITY MARKET STRATEGY-11 Aug 2014

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BASE METAL WRAP: Copper rose as stockpiles fell to a six-year low and on speculation demand may rise in China after below-target inflation signaled room for policy easing in the world’s largest user.

ENERGY WRAP: Brent crude traded near the lowest close in nine months on speculation that U.S. airstrikes against militants in Iraq will protect supplies from OPEC’s second-largest producer. WTI increased for a third day.

PRECIOUS METAL WRAP:
Gold extended declines from a three-week high as investors weighed tensions in the Middle East and Ukraine, while assets in the biggest exchange-traded product capped the largest weekly contraction in three months.

GLOBAL EVENTS TO WATCH:
FOMC Member Fischer Speaks.

AGRI COMMODITY
BULLION COMMODITY
CS CHANA (SEPTEMBER)) OVERVIEW:
TREND CONSOLIDATE
SUP1:2890
SUP2:2845
RESIST1:2930
RESIST2:3010
TRADING STRATEGY: SELL ON RISE
CS COPPER (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:427
SUP2:425
RESIST1:435
RESIST2:440
TRADING STRATEGY: SELL ON RISE
CS JEERA (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:11265
SUP2:11160
RESIST1:11320
RESIST2:11570
TRADING STRATEGY: SELL ON RISE
CS CRUDE (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:5950
SUP2:5930
RESIST1:6085
RESIST2:6145
TRADING STRATEGY: SELL ON RISE
CS TURMERIC (SEPTEMBER) OVERVIEW:
TREND BULLISH
SUP1:6770
SUP2:6650
RESIST1:6980
RESIST2:7070
TRADING STRATEGY: BUY ON DIPS
CS GOLD (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:28530
SUP2:28390
RESIST1:28850
RESIST2:29185
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:3500
SUP2:3480
RESIST1:3597
RESIST2:3640
TRADING STRATEGY: SELL ON RISE
CS SILVER (SEPTEMBER) OVERVIEW:
TREND BEARISH
SUP1:43200
SUP2:41760
RESIST1:44310
RESIST2:44800
TRADING STRATEGY: SELL ON RISE

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