DAILY COMMODITY MARKET STRATEGY-12 Aug 2014

BASE METAL WRAP: Copper fell for the second time in three days before July industrial production and retail sales data tomorrow from China, the world’s biggest consumer of industrial metals.

ENERGY WRAP: West Texas Intermediate crude slid after a three-day advance before the release of fuel-supply data in the U.S., the world’s biggest oil consumer. Brent also declined.

PRECIOUS METAL WRAP: Gold extended declines from the highest level in three weeks as ebbing tensions in the Middle East and Ukraine boosted global equities, damping demand for the metal as an alternative investment.

GLOBAL EVENTS TO WATCH: NAB Business Confidence, German ZEW Economic Sentiment, NFIB Small Business Index, JOLTS Job Openings, Federal Budget Balance.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (SEPTEMBER)) OVERVIEW:
TREND CONSOLIDATE
SUP1:2900
SUP2:2845
RESIST1:2980
RESIST2:3020
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
SUP1:11160
SUP2:10920
RESIST1:11500
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 CONSOLIDATE
SUP1:6530
SUP2:6310
RESIST1:6770
RESIST2:6980
TRADING STRATEGY: SELL ON RISE
CS GOLD (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:28500
SUP2:28320
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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